March 2015 Preview: Historical Catastrophe Activity

By Ted Gregory February 24, 2015

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During the month of March between 2005 and 2014, Property Claim Services® (PCS®) designated 28 catastrophe events. All were weather-related and caused approximately $12.5 billion in insured losses.

The largest March event in the last ten years was CAT 67, a 2012 winter storm. It involved six states, had an estimated insured loss of $2.5 billion, and generated approximately 300,000 claims.

The most active years for March catastrophe event frequency were 2008 and 2012, with four each. They resulted in $1.2 billion and $3.4 billion in insured losses, respectively.

Although March 2014 saw only two events — the winter storm (Cat 36), and the wind and thunderstorm event (Cat 37) — they accounted for more than $645 million in insured losses and 121,000 claims.

 

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Ted Gregory

Ted Gregory is manager, Property Claim Services (PCS). PCS is a Verisk Analytics (Nasdaq:VRSK) business.