Damaging wind and hail events account for a significant share of the insurance claims in the United States. In the spring of 2011, State Farm, the largest US property/ casualty writer by net premiums written, said it paid nearly $1.75 billion in claims from violent weather, including powerful tornadoes and hailstorms that hammered the nation's midsection and southeastern states in April and May2.Allstate reported that during the same time period they had over $2 billion in losses, in large part due to tornadoes and thunderstorms3.
The new CoreLogic Wind and Hail Probability Layers are based on advanced modeling techniques and calculated separately for different types of damaging wind events.
1 BestWire Services, July 12, 2011
2 BestWire, June 17, 2011
3 Reuters, July 13, 2011
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