Rarely is falling below expectations a good thing, preferable even, but that is exactly how the 2013 U.S. catastrophe season panned out.
What could have been a horrific year of natural disasters, reminiscent of the ferocious winds, waves and fires the year prior, fizzled out, providing insurers with a reprieve from major hurricane activity.
"Many predicted that 2013 would be a record year of catastrophic destruction," says Dr. Thomas Jeffery, senior principal scientist for CoreLogic. "[However] the number of natural disasters that typically cause widespread destruction—mainly hurricanes, wildfires and tornadoes—were far less than anticipated and [were far less] compared to last year's record-setting hazard seasons."
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