FRIDAY, APRIL 19, 2013
It is no secret that severe weather events have become more frequent, or that
the property and other losses caused by these events are on the rise.
According to the Insurance Information Institute, since 1997:
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The U.S. has
experienced an average of 63 storms each year that were federally declared
natural disasters
·
That average each of
the past three years jumped to more than 75
The cost of catastrophe-related homeowners claims as a result
of those storms is growing as well; Cat claim severity is up 200 percent from
1997 to 2011. And, this combination is affecting the homeowners industry's
underwriting results.
Jack McKinney
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Posted 11:51 AM
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