You are here
Insurance 

The month of may, difficult for insurers

by

Frédérique De Simone

7 June 2019 11:30

Just begun, the season canadian forest fires ravaged nearly 530,000 hectares (1.3 million acres, by its flames. More than 370 000 hectares have been completely charred, between 12 and 31 may of this year, reports Aon in its monthly report on the disaster.

Aon raises that approximately 10,000 people were evacuated during the destruction of the railway bridge of the CN, at Steen River, as a result of the fires in alberta. More than 502 fires have been reported in the province so far. The government agencies have provided more than $ 250 million (M$) to cover the costs of fighting fires.

Hurricanes and storms of hail for the United States

Violent storms have also hit the United States in may, including 7 events major climate, particularly in the central and eastern regions, causing many deaths and hundreds of injured. Each of them has caused losses amounting to several hundred million us dollars (US$ M).

Texas, Louisiana, Oklahoma, Kansas and Arkansas are among the states most affected. Public and private insurers, who cover most of the damages related to wind and hail, had to cover more than 620 MILLION US$ for these regions. The economic losses have been estimated at$ 850 MILLION US.

In North Carolina, the insurers had to pay approximately 215 M US$ in the wake of extensive damage caused by powerful storms that have swept through the region. Near the city of Raleigh, hailstones the size of a baseball have been reported, and a tornado has been confirmed. The total economic loss was estimated at nearly US$ 300 MILLION.

In Iowa, Illinois and Indiana, and the hail and the high winds have caused significant damage to structures and vehicles. One of the highest concentrations of damage have been recorded in the city of Chicago, by reason of the showers of hail the size of a tennis ball. For these states, insurers have hedged U.S.$ 325 MILLION and the total economic loss is estimated at a minimum$ 425 MILLION US.

South America

Paraguay has seen heavy seasonal rainfall, from mid-march to almost the whole month of may, causing numerous floods. At least six people were killed near the capital, Asunción. The agricultural sector has been heavily affected by the floods that have, among others, caused harm to the sector of cattle breeding

Asia

While many parts of the globe were flooded during the month of may, rather, it is the drought that has persisted in the chinese province of Yunnan. More than 273,000 hectares of arable land have been affected, which has resulted in a financial cost 138 MILLION US$.

India and Bangladesh have been affected by the tropical cyclone Fani, which has caused economic losses which are expected to exceed us $ 2 billion. Hundreds of people have lost their lives.

Europe and Africa

Southern Europe has been hit by heavy rainfall which caused overflow of rivers in Italy, where about 600 houses, many business and agricultural land have been flooded. While the south of Germany and Poland has also suffered flooding.

The arabian peninsula has also suffered from the heavy rainfall, between 17 and 27 may. Of inadequate infrastructure have caused floods in the regions of Oman, Yemen, saudi Arabia and the united arab Emirates. At least six people have been reported missing after being swept away by flash floods in Oman.

In the capital city of Mali, the flooding caused the death of 15 people and several countries of West Africa have experienced episodes of heavy rains when the monsoon begins.

Related posts

Leave a Comment