A quiet year for major catastrophes did not translate into fewerlosses for insurers, according to the Xactware 2014 PropertyReport.
“Although 2014 was a quiet year for catastrophes overall, severeweather damage from wind, hail, lightning and tornadoes was at thefourth-highest level in history,” said Greg Pyne, Xactware’sassistant vice president of Pricing Data Services in a statement.“The trend of high damage from severe weather continued to troublethe industry in 2014.” Total insured losses due to thunderstormssaw the fourth highest number on record with $12.3 billion.
The report tracks claims from events such as fires, waterdamage, hail and wind and highlights trends so insurers can seeareas of risk.
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