Property & Casualty Insurance: A Rather Turbulent 2019
… free and easy in recent years, has abruptly retreated to the sidelines, reeling from red ink. But why? Record Insurance Losses in 2017, 2018, and 2019 Greater frequency of catastrophic events like hurricanes, floods, and wildfires, coupled with continuous rate decreases in past years, drove more companies to evaluate their risk tolerance and look for greater asset protection. Three of the top six largest losses since 1970 occurred in 2017. There have also been over $30B in wildfire losses in the past three years making it very tough for insurers to control costs. Top 10 Insurance Losses since 1990: Hurricane …
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