Market Insights

Intensifying weather events are driving higher losses for insurers
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.
U.S. severe convective storms have grown to represent a 10-billion-dollar annual peril for the insurance industry, and their accurate prediction remains a challenging task. In addition, we now live in a world where these extremes are changing in frequency and location. For example, recent research has shown an upward trend for tornadoes in the Mid-South, and a decreasing trend in the notorious “Tornado Alley” of the Great Plains. Changes in the climate, along with changes in the human-built environment, are drastically shifting the landscape of risk associated with natural hazards.
Already have an account? Sign In Now
Copyright © 2021 ALM Media Properties, LLC. All Rights Reserved.