Catastrophe & Restoration

What happens when insurance companies set aside millions for insured disasters that didn't occur?

Extreme weather, hyperinflation and social inflation are forcing carriers to make difficult adjustments.

Most insured losses will be retained by primary insurers while economic losses may trigger parametric coverages.

At the same time the agency struggles to cover disaster relief, FEMA says it will help pay for more flood resiliency.

Already this year, the U.S. has been hit by 15 weather and climate disasters costing at least $1 billion.

Speaking recently on CNBC, Sean Kevelighan talked about how inflation and litigation increase insurance premiums.