Special Report

2020 Catastrophe Preparation and Recovery

June 1 marks the beginning of hurricane season, while the peak of tornado season is March through May. Wildfire season is traditionally during the summer months, but in some states the risk is yearlong. Preparation is key to providing a timely response in order to help policyholders begin the recovery process. In this Special Report we share information on how best to prepare for natural disasters and how to recover if one damages your property.


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As extreme weather events show no sign slowing down, predictive models will need to find a way to properly assess secondary perils. (Photo: Shutterstock) As extreme weather events show no sign of slowing down, predictive models will need to find a way to properly assess secondary perils. (Photo: Shutterstock)

The insurance industry has experienced an unprecedented number of natural catastrophes in recent years. And while these events have delivered a wake-up call to the industry, there is an affiliated risk that is just as concerning.

According to the latest sigma report from the Swiss Re Institute, secondary perils have been major drivers of devastation and financial loss in recent years. Insured losses from natural catastrophes in 2018 were $76 billion, according to the report, and more than 60% of the losses resulted from secondary perils.

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Denny Jacob

Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected]

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