Payouts for SCS Increasing
Insured losses from severe convective storms (SCS) in the first half of 2024 have accounted for the majority of global catastrophe losses, with the United States experiencing a significant increase in insurance payouts.
According to The Demex Group, a risk analytics company that provides reinsurance solutions for SCS, this rise in losses poses a considerable challenge to insurers and policyholders due to the limited availability of reinsurance protection for such events.