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Instant Insights / The impact of climate change on P&C insurance

Scientists have built consensus around the probability that more powerful floods, fires, droughts and storms will occur with higher frequency as the Earth gets hotter.

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If there was one bright spot in the by-peril trends, it was with hail claims. While costs associated with hail-related losses increased between 2016 and 2017, the frequency of hail-related claims decreased to 2012 baseline levels. (Photo: Shutterstock) If there was one bright spot in the by-peril trends, it was with hail claims. While costs associated with hail-related losses increased between 2016 and 2017, the frequency of hail-related claims decreased to 2012 baseline levels. (Photo: Shutterstock)

Extreme weather events continue to intensify, leading home insurers to develop new services and rating plans to keep their books of business more accurately priced for risk. The latest research shows an increase in both the number of losses and the percentage of losses that resulted from extreme weather events.

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