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More than $1 billion in U.S. insurance losses occur in March

Posted On Tue, April 10, 2012

A report completed by Aon Benfield and published by Impact Forecasting showed that national disaster costs spiked around the world in March, with a considerable amount occurring in the United States.

The Global Catastrophe Recap report showed that approximately 65 tornadoes were confirmed in the United States, which totaled close to $2 billion in economic losses. In addition, this could equal insurance losses of as much as $1.1 billion. There were an approximate 170,000 insurance claims during the month.

"Following an active 2011 U.S. severe weather season, the first quarter of 2012 has also proven itself to be markedly busy," said Steve Jakubowski, President of Impact Forecasting. "Despite the heightened activity thus far, it is nearly impossible to forecast and project losses for the rest of 2012."

Those consumers who already have disaster insurance, but aren't sure their home insurance plan is up to date, may want to look online for options. There are a plethora of home insurance quotes available, and some may come with low rates that are affordable for most homeowners.

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