Among the more dangerous natural disasters to affect businesses, hail damage cost organizations over $2.75 billion USD in June!
That’s just one of the findings from the most recent Global Catastrophe Recap, collected by insurance risk group Aon Benfield.
An outbreak of severe thunderstorms in Western and Central Europe resulted in residential and automobile hail damage, and even killed six. This is actually the second consecutive summer marked by serious hail damage in Europe. Last year, it resulted in $4 billion USD in insurance claims.
In the U.S., a week-long event led to significant hail, straight-line wind, and flash flood damage across parts of the Midwest,
Plains, Rockies, Southwest, and the Tennessee Valley, killing three. Softball-sized hail and winds gusting beyond 90 mph led to economic damages totaling roughly $850 million.
- Tropical Storm Boris hit Mexico and Guatamala with heavy rains and 65-mph winds.
- An overflowing Parana River led to flooding in Paraguay, where 75,000 people were evacuated near the capital of Asuncion. In Argentina, floods caused residential and infrastructure damages listed in excess of $62 million USD.
- Torrential rainfall in the Nigerian city of Ibadan left 15 people dead after the Olodo River burst its banks. Resulting floods also swept away bridges and critical infrastructure.
- Days of torrential rainfall inundated southern sections of China. A combined 74,000 homes were damaged or destroyed as more than 1.25 million people were evacuated, while 296,500 acres of cropland submerged, decimating the infrastructure was decimated.
You can download a complete copy of the recap here.