In recent years, properties in the United States have been hit hard by natural disasters, with the largest insured loss event occurring in 2014, according to the Rocky Mountain Insurance Information Association.
Property and casualty insurance industry catastrophes losses in the United States rose to $15.5 billion in 2014, up from 12.9 billion in 2013.
As a result, claims rose to 2.1 million in 2014, compared with 1.8 million in 2013, the association reported, citing that each year about 6 percent of homeowners file claims.
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Trudy Knockless
Trudy Knockless is a reporter on ALM Media's Business of Law desk. She has a background serving legal and insurance publications. Contact her at [email protected] or on LinkedIn at Trudy Knockless.
