March 10, 2016

Economic losses caused by catastrophe and weather events in the U.S. in February 2016 are expected to surpass $1 billion, while the insurance and reinsurance industry will deal with losses “well into the hundreds of millions (USD)” according to broker Aon. Severe convective thunderstorms resulted in the highest number of February tornadoes in the U.S. since 2008, according to reinsurance broker Aon Benfield’s catastrophe model development team Impact Forecasting, driving the economic losses suffered last month.

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