Global Insured Catastrophe Losses Now Expected to Average $171 Billion Annually, Verisk Finds

Average annual insured catastrophe losses increased by approximately $19 billion in a year, the highest estimate Verisk has reported to date Despite a season with no U.S. hurricane landfalls, estimated losses exceeded $100 billion for a sixth consecutive year Exposure growth, rising reconstruction costs and continued development in catastrophe-prone areas are pushing potential losses higher, regardless of weather patterns in any single year Jersey City, N.J., […]