Natural catastrophes will once again break several insured loss records in 2023. A high number of low-to-medium-severity events will aggregate to insured losses
The extreme event solutions business unit of Verisk estimates industry insured losses due to wind from Winter Storm Ciarán will range between EUR 800 mn and EUR 1.3 bn
2023 saw multiple significant disaster events, which drove total year-to-date economic losses above $295 billion, approaching the 21st-century annual average of $310 billion
Re/Insurers poorly prepared for the increased loss frequency and intensity wrought by flooding and climate change as this year’s North Atlantic hurricane season
Insured natural catastrophe losses for 2021 are estimated at between $105 billion and $120 billion, according to several sources, making it the third highest natural catastrophe loss