US weather losses ‘in excess of $20bn’
Reinsurance brokerage Holborn has warned that US catastrophe losses since April are likely to exceed $20bn.
This forecast is considerably higher than previous loss estimates, which have ranged from $5bn to $15bn.
"Based on insurers' loss advices, we estimate that the US tornado and flood losses since April are in excess of $20bn," Holborn said.
The $20bn+ estimate covers losses from the 1,200 reported tornadoes that hit the US in the last two months and the flooding along the banks...
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