Aon Benfield’s June severe weather stats show losses of $2 billion

Weather Insurance Market

Last month experienced significant insured natural catastrophes in the United States. Aon Benfield has released its Global Catastrophe Report, which showed that in June, the losses from severe weather were nearly $2 billion in the United States alone. The report was published by Impact Forecasting at Aon, analyzing natural disasters worldwide. Among all of the severe weather events, the greatest losses were caused by the hailstorms in New Mexico and Texas, where hail the size of tennis balls hurtled to the ground, smashing their way through cars, roofs, and everything…

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Agriculture groups seek more protections against severe weather with insurance safety net

Extreme weather is presenting a unique and complicated problem to the nation’s farmers. With many decrying climate change as a scientific impossibility, famers have been left handling the issue of uncommonly severe weather without a place to put the blame. In fact, most farmers do not even mention climate change when discussing the issue, focusing their concerns more on the protection of their crops and mitigating any losses they experience. This has led to a rampant increase in demand for crop insurance throughout the nation. Crop insurance can help farmers…

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