With June not yet over, this year is already guaranteed to be the costliest for U.S. insurers since 2008 due to the onslaught of inland catastrophes this spring.
As a result of all this claims activity, homeowners' insurers are looking to increase rates to better match the risk.
The losses have affected “a large share of the homeowners' market over a large geographic area, but interior states most,” says Robert Hartwig, president of the Insurance Information Institute.
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