What we're seeing
Since 1980, the U.S. has experienced 258 weather disasters causing at least $1 billion in damage, 46% occurring in the last decade, according to data from the National Oceanic and Atmospheric Administration (NOAA). 2020 was a particularly active year, with the worst wildfire season on record and an historic hurricane season. With estimated losses between $5.8 billion and $15.8 billion from hurricane damage alone, repercussions may be felt throughout the entire insurance market, reflected as higher premiums for insureds not directly affected by these catastrophic events.
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