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Storms dominate August cat losses

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Nine tropical cyclones made landfall in August, leaving a trail of damages in the region of at least $US20 billion ($27 billion), according to Aon’s latest monthly Global Catastrophe Recap report.

Hurricane Laura, the strongest storm to make landfall in the US state of Louisiana since 1856, was the most damaging with economic losses exceeding $US10 billion ($13.7 billion).

Laura made landfall as a Category 4 storm on August 27, packing wind gusts of 160kph and generated huge storm surge and inland flooding.

The report predicts a “notable multi-billion dollar payout” from public and private insurance entities for Laura-related losses.

Economic losses from the raging wildfires in California have climbed to hundreds of millions, the report says.

In Asia seasonal monsoon rains lashed parts of China causing overall losses of over $US28 billion ($38.4 billion) while in Australia a severe weather system moving through NSW damaged up to 2000 structures worth millions of dollars.

“North America and Asia endured another impactful month of weather disasters in August,” Director and Meteorologist Steve Bowen said.

“Tropical cyclones, severe convective storms, and wildfires all left numerous financial and humanitarian challenges in their wake as the globe continues to deal with implications stemming from the COVID-19 pandemic.”