Insured losses from severe convective storms in the United States continued to increase during the third quarter, surpassing the $50 billion mark for the first time on record and accounting for roughly 60% of all global insured losses, according to Aon plc in its Q3 Global Catastrophe Recap report.
In the U.S., there were at least four individual billion-dollar insured loss events from severe convective storms (SCS), which will likely increase to seven events due to continued loss development, the report said.
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