See the Big Picture for Sustainability in 2025
Big Picture for Sustainability in 2025: Secondary Perils and Protection Gaps
Insured losses from natural catastrophes globally have topped $100 billion in each of the past three years and, thanks to hurricanes Helene and Milton, look set to do so again in 2024. Contributing factors to these high numbers include growing populations in catastrophe-prone areas and rising insured property values because of economic inflation. In hurricane-prone Florida, litigation is pushing up claims costs. The El Niño-Southern Oscillation, a recurring natural climate pattern, has a big influence on the strength and location of tropical cyclones.
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