Convective storms affect countries worldwide, with billions in losses and dozens of fatalities every year. They are now the key insured loss driver in the United States, even after considering the losses sustained by tropical cyclones in 2017. Since 2008, total insured losses from convective storms have exceeded $10 billion per year. Additionally, these losses continue to increase year over year. Key loss drivers include increased population, buildings, vehicles, and property values. However, other loss drivers relate to construction materials and practices, as well as building code adoption and enforcement. The increasing loss trends pose a number of challenges for the insurance industry and broader society. These challenges are discussed, and some recommendations are presented.
