Flood

Local catastrophes caused intense regional volatility, according to Verisk, but overall lower claim volume contributed to the property & casualty industry’s strong first-quarter results.

While storms may not make landfall in the U.S., they are becoming increasingly unpredictable and intensify rapidly, warns the National Oceanic and Atmospheric Administration (NOAA).

The Trusted Choice® survey revealed that while most U.S. insurance consumers don’t fully understand the policies they have purchased, 86% believe they do.

Across the nearly 33 million homes stretching from Texas to Maine that could be impacted by hurricane winds, the combined reconstruction cost would be $10.8 trillion.

As the recent string of storms and flooding on the West Coast have likely hit property owners with unmitigated costs, many Americans mistakenly believe they are covered against floods, according to Neptune Flood.