Global reinsurance brokerage and risk advisory firm Gallagher Re reports that a series of severe convective storms (SCS) in the central and eastern United States in April 2026 is expected to result in insured losses exceeding $1 billion.
The broker attributed the damage primarily to large hail, at least 124 confirmed tornado touchdowns and widespread straight-line wind damage.
The company said the overall economic costs would be higher once uninsured and underinsured risks are taken into account, noting that river flooding in parts of the Midwest could push total losses beyond insured figures.
Gallagher Re also stressed that although thunderstorms have been active since early March, they have not resulted in unusually large insurance or financial losses compared with recent years.
According to Gallagher Re, the outbreak occurred in two main phases between April 13-16 and April 17-18, with widespread impact across a large geographical area. The company expects the worst damage to be concentrated in Illinois, Wisconsin, Iowa, Michigan, Minnesota, Indiana and Ohio, although the overall impact stretches from Texas to New Hampshire. Gallagher-Ray described the event as another example of how convective storm activity can produce substantial overall damage without reaching record levels.
Gallagher Re cited large hail as a key driver of claims, with many reports exceeding two inches in diameter and some reaching four inches, including impacts in densely populated areas near Madison, Milwaukee and Cleveland. The company also confirmed that at least 124 tornado touchdown events occurred during this period, involving varying intensities, and further assessment is ongoing.
Gallagher Re reiterated in its financial assessment that total economic losses will exceed insured losses due to the impact of uninsured assets and subsequent flooding. The company noted that heavy rainfall following the storm caused rising river levels and property damage in Midwestern communities, with multiple river levels remaining at moderate or severe flood stage for days after the event.
Gallagher Re puts April’s outbreak into a broader annual context, reporting that insured losses from severe convective storms in the United States have approached $10 billion so far this year. This is still below levels recorded in late April in recent years, including $23 billion in 2025, $20 billion in 2024 and $25 billion in 2023. The company also noted that the typical peak period for such activity is March to June, although major outbreaks can occur at other times of the year.
From a geographic perspective, Gallagher Re highlighted how tornado activity so far in 2026 has been concentrated in the Midwest, with Illinois recording the highest number of confirmed tornadoes to date. The company also identified Iowa, Wisconsin, Illinois and Minnesota as states with the highest number of reports of large hail, while noting that Texas is off to a relatively quieter start to the year than usual.
Gallagher-Ray attributed the weather conditions to a persistent trough of low pressure over the western United States and a ridge of high pressure to the east, which allowed for the continued flow of warm, moist air from the Gulf of Mexico. The company said this pattern, supported by low-pressure systems, frontal boundaries and trunk lines, creates favorable conditions for repeated storm development. Between April 13 and 18, Gallagher Re recorded at least 1,337 reports of severe weather including hail, tornadoes and damaging winds in 23 states, with a large number involving large hail.
Gallagher Re described the period 17-18 April as the most impactful phase of the event, supported by strong upper-level dynamics and resulting in widespread severe weather. The company noted that more than 73 tornadoes were confirmed on April 17 alone, along with extensive warning campaigns and reports of damaging winds reaching hurricane strength in some areas. Impacts include damage to property and infrastructure, and disruption to transportation, including operations at major airports.
In addition to damage caused by wind and hail, heavy rainfall caused widespread flooding in parts of the Midwest, with multiple rivers reaching moderate to severe flood stage, Gallagher Re reported. More than six inches of rain fell in some areas during the event, with cities like Milwaukee and Green Bay setting new April rainfall records.
Overall, Gallagher Re concluded that the April outbreak highlighted the scale and frequency of severe convective storm risks in the United States, as well as the ongoing gap between insured losses and total economic losses, particularly with the overall impact of flooding.
