Signal: Stronger storms
InsuranceLossesPremiums

Storms lead to 15% jump in losses for insurance companies

by on 05. Apr, 2012 in Uncategorized

For homeowners insurance, direct-written premium rose 3.5 percent to more than $71.6 billion for [2011]. The increase indicates “that rate increases—stemming from recent years’ unexpectedly high weather-related losses—are gaining traction.” Storm losses accounted for a 14.8 point increase in the direct-loss ratio to 75.8 “likely motivating continued rate increases in 2012,” according to Shields.

ThunderStormLossesGraph

Thunderstorm losses up 500% since 1980

by on 20. Aug, 2011 in Uncategorized

Thunderstorm losses since 1980 have become five times more severe, on average. There were $20 billion in such losses by midyear in 2011, doubling the average of the past three years. “The nation is increasingly vulnerable to extreme weather,” National Weather Service Director Jack Hayes says. The year has been marked by floods, drought and [...]