US catastrophes in the first quarter of the year led to $3.8 billion in insured losses across 29 states, the worst in a decade, a report said.
The Property Claims Services (PCS) unit of Verisk Insurance Solutions also said in its review that the 13 catastrophe events so far exceeded the 10 year (2007-2016) average of 7.6 events and $3 billion losses.
Texas registered the highest losses, accounting for 50% of the total at $1.9 billion, due to five separate weather events. California rung up $ 240 million insured losses at second with four events. Illinois ranked third, suffering $210 million from two events.
The PCS review also noted an upward trend in the frequency and severity of catastrophes in the US. It reported that a single event came with a $1.1 billion price tag.
