secondary perils News
No NOAA Large-Disaster Data to Hurt Insurers’ Grasp of Secondary Perils, Says AM Best
Insurance industry financial strength rating agency AM Best said that a decision to stop updating a National Oceanic and Atmospheric Administration disaster database could be detrimental to insurers ...
Insured Losses Could Hit $145B in 2025, Driven by Rising Claims From Secondary Perils
Global insured losses from natural catastrophes hit $137 billion in 2024, following the 5-7 percent annual growth rate that has been the norm in recent years, according to Swiss Re analysis. If this ...
Rise of the Frequency Perils
There's no denying the frequency (aka secondary) perils have taken front and center stage when it comes to weather-related disasters and insurer claims.
Non-peak (secondary) perils and record-setting weather and climate events drove global insured losses from natural catastrophes to an estimated $123 billion in 2023, the ... Global natural catastrophes cost insurers $50 billion in the first half of 2023, (H1 2022: $48 billion), with most of the losses stemming from severe convective storms, ... Economic and insured losses from secondary perils from natural catastrophes are accelerating and surpassing the loss totals from primary perils, which is leading ...
Catastrophe Bond Issuance Is Set to Blast Through 2023 Record
Issuance of catastrophe bonds is on track to exceed the record set in 2023, as a cocktail of climate change, population density and inflation feeds growth in a market built around natural disasters. ...
Secondary Perils Drive Global Insured Losses to Estimated $123B in 2023: Gallagher Re
Mutual Insurers’ Bottom Lines Reflect Impact of Inflation, Secondary Perils: AM Best
Despite notable premium growth in 2022, elevated inflation led to higher claims costs resulting in a $31 billion underwriting loss for U.S. property/casualty mutual insurance companies, according to ...
Severe Convective Storms Dominate Insured Natural Disaster Losses in H1: Swiss Re
Rising Costs of Secondary Perils Force Reinsurers to Require Higher Attachment Points
Non-Modeled Disaster Losses Are Growing Component of Insurance Claims: RMS
Not only did natural catastrophes in 2021 break insurance claims records, but they also highlighted the growing cost of non-modeled characteristics of disasters, which are altering the industry's ...