Highlighting News, Trends and Best Practices in Risk Management and Property & Casualty Insurance

Commercial Property & Casualty Picking Up and Dusting Itself Off After An Unprecedented 2017, Leaving Scars for 2018

Posted by Matt Hene on Mar 27, 2018 11:49:43 AM

The commercial insurance industry is comprised of a complex blend of risk assessment, prevention, and circumstances that are many times left in the hands of Mother Nature.  Underwriters and insureds go to great lengths to ensure that every preventive measure and precaution is taken to mitigate the risk, but all the best practices, experience and prevention could not control the detriment that Mother Nature would cause in 2017.  Now, in 2018, the insurance industry is trying to pick itself up and dust off after suffering from a $23.5 billion industry loss last year after $52.9 billion of catastrophic claims were filed. 2 To say that these figures will impact 2018 would certainly be an understatement.

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Topics: Risk Management, claim, hurricane, losses, auto, insurance premiums, auto costs, catastrophic, mitigate risk, storm damage