Economic losses from recent severe thunderstorms and flooding in central and eastern portions of the US may exceed $ 1bn , according to estimates from Aon . The storms took place in the week of 24 - 30 May. This is the second - consecutive month that the nation has seen large losses from extreme weather , with damages from more than 250 tornadoes in April costing roughly $ 200 in insured losses . congress expects insurers and retailers to cover the costs .
Economic losses from recent severe thunderstorms and flooding in central and eastern areas of the US will exceed $1bn, according to estimates from Aon. The storms took place in the week of 24-30 May. This is the second-consecutive month that the US has seen large losses from extreme weather, with damages from more than 250 tornadoes in April costing roughly $1bn in insured losses. Aon expects insurers and reinsurers to absorb the costs.