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 natural disasters demonstrate that economic factors, in the last two years augmented by inflation, are the main driver of elevated insured losses from natural catastrophes
Natural disasters resulted in global economic losses of USD 275 billion in 2022, of which USD 125 billion were covered by insurance, the fourth highest one-year total
Insurers in Florida are currently barred from non-renewing or canceling policies, under an emergency order issued by the state’s Insurance Commissioner