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Hartford Financial Logo
  • commented 6/6/11
  • tags: HIG
  • What is the impact of tornados in the US on insurers like Hartford? [ less... ]
    What is the impact of tornados in the US on insurers like Hartford?
    Trefis Team commented 4 years ago
    Thunderstorms and tornadoes typically account for the largest share of insured losses from natural disasters ahead of winter storms, floods, earthquakes and tropical cyclones. This year is already the second deadliest tornado season on record, with 515 deaths, according to the <a href='http://www.iii.org/facts_statistics/tornadoes.html'>Insurance Information Institute.</a><br>Catastrophe modelling firm, EQECAT, has estimated the potential losses to the insurance industry to be in the region of <a href='http://www.artemis.bm/blog/2011/05/02/u-s-tornado-outbreak-insured-losses-could-hit-5-billion-catastrophe-bond-impact-expected-to-be-minimal/'>$2 billion to $5 billion.</a> Given The Hartford's P&C insurance market share of 2.4%, its share of claims could be anywhere between $50 million to $120 million.
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