Insurers In US, Canada Hit Hardest In $68B Natural Disasters

Law360, London (July 24, 2020, 3:31 PM BST) -- Insurance businesses covering the United States and Canada faced the biggest bills globally in the first six months of the year because of chaotic weather, which in some cases threw buses into the air and rained down tennis-ball sized hailstones, according to Munich Re.

Natural disasters produced overall losses of around $68 billion from January to June, a fall in the 30-year, inflation-adjusted average of $74 billion, the German reinsurer said on Thursday.

Severe thunderstorms in North America were blamed for $27 billion of overall losses, and for $20 billion of insured losses.

The natural disaster figures for the period show...

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