The other week, I was talking with a claim specialist about the freakish weather of recent months and the sure-to-follow influx of claims. National Underwriter Company's home office was closed following a terrible windstorm in September when the power went out for the entire region, and again in late January for a day because of the ice storm that struck the Midwest.
I don't believe the company filed any claims as a result, but the news was full of fallen tree limbs, downed power lines, business interruptions, and damaged buildings. Those were just minor inconveniences in the scheme of things. Some parts of the country were still without electrical power more than a week after the heart of the January ice storm faded. A number of people died.
Whether you credit the increase in severe weather to global warming, payback for the greed of Wall Street, or just plain coincidence, the result is an increase in weather-related damage to homes and business properties and an increase in auto crashes.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
