Insurance executives are still grappling with an all-too-slowly recovering economy, declining returns on equity and increasing pressure to turn a profit any way they can—and carriers offering Homeowners' coverage face added volatility in light of recent catastrophic weather events like Superstorm Sandy.
In order to bring some balance to this equation, there is a growing need to better understand and manage risk in Homeowners' insurance.
The numbers tell the story: According to A.M. Best and the Insurance Information Institute, Homeowners' combined ratio swung from a high of 158.4 percent in 1992 to a low of 88.9 percent in 2006. The average combined ratio for Homeowners' carriers from 2008-2011 is 113 percent, compared to 102 percent across all other P&C lines.
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