Secondary perils: Scratching the surface
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Secondary perils: Scratching the surface

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Severe convective storms (SCS), in particular hail, drove the bulk of cat losses last year, but while it may feel like hail has worsened significantly over the past several years, sources say the threat to insurers is more complicated.

2023 had a record 33 billion-dollar insured loss events, 24 of which occurred in the United States. This surpasses the previous record of 32 events set in 2020.


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