Editor's Letter
Earth Day: An annual call to action for the insurance industry
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.
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.
The 2018 Home Trends Report from LexisNexis Risk Solutions highlights by-peril trends in the U.S. home insurance industry — including wind, hail, fire, water, theft and liability — to help insurers make more informed business decisions. Across the country, loss costs increased 19% over the previous year, and of those claims, catastrophe claims made up nearly 35% — a 5% jump.
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