Severe Convective Storms Cause $60 Billion in Insured Losses Globally
• Severe convective storms caused over $60 billion in insured losses globally, accounting for nearly half of all insured natural catastrophe losses last year.
• Hail events are a major driver of SCS-related insurance losses, responsible for 50% to 80% of the total.
• Factors like population growth, urbanization, and outdated construction codes exacerbate the impact of severe convective storms.
SCS cause huge insurance losses globally
Severe convective storms (SCS) are now a major source of global insurance claims, accounting for nearly half of all insured natural catastrophe losses, totaling over $60 billion last year. These storms, characterized by flash flooding, high winds, and hailstorms, often strike with little warning, leading to localized destruction. Accumulated losses from SCS exceeded $200 billion between 2023 and 2025, with hail events responsible for 50% to 80% of all SCS-related insurance losses.
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