North American hurricane landfalls in November added about $9 billion to the total Atlantic seasonal financial toll in terms of catastrophe losses, Aon said in its latest Global Catastrophe Recap report.

One of the most catastrophic storms from the month: Hurricane Eta, which made landfall and caused major losses in Honduras and Guatemala before hitting south central Cuba as a tropical storm. Total economic losses: close to $7 billion, most of which were uninsured.

Eta had staying power. The storm later hit land in Florida as a tropical storm – twice – causing flash flooding, a storm surge and state-wide tropical storm-force wind gusts. Total U.S. economic losses from this storm reached an estimated $1.1 billion. Public and private insurers covered about half of the loss.

Then there was Hurricane Iota, the first Category 5 hurricane of the 2020 Atlantic Season, that caused significant coastal and inland flooding damage in Central America, but particularly Nicaragua and Honduras. Eta had already caused damages and Iota made things worse. The estimated economic loss tally: $1.25 billion, with most of the damages uninsured.

Asia wasn’t immune, with the arrival of Super Typhoon Goni, now the strongest storm at landfall in recorded history. It reached sustained winds of 195 miles per hour at its peak, making landfall in the Philippines on Nov. 1. The storm killed at least 31 people and injured nearly 400 others. Approximately 250,000 homes and thousands of other structures were damaged or destroyed, and a vast area of agricultural land was also affected. Economic losses to agriculture and infrastructure alone reached at least $415 million, and the finally economic tool should reach close to $1 billion.

Other natural catastrophe events in November included:

  • Four notable severe weather outbreaks in the U.S. with straight-line winds, tornadoes and large hail. Compound economic losses were estimated to exceed $1 billion, with the most notable effects in the Midwest, Mid-Atlantic and the Northeast.
  • Extremely intense rainfall hit the Valencian Community region in eastern Spain on November 5-6, causing notable flooding. The Spanish Insurance Consortium expected approximately 12,000 property claims and $99 million in losses. Overall economic losses, including agriculture and infrastructure sectors, were even higher.
  • Typhoon Vamco crossed the Philippines on November 11-12, before striking Vietnam on November 15. At least 200,000 homes were either damaged or destroyed and at least 99 people were killed. Total economic losses surpassed $1 billion in the Philippines alone, including roughly $415 million to agriculture and infrastructure.

Source: Aon