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The average annual loss from global natural catastrophes is predicted to reach a record $151 billion over the next five years, with non-crop losses accounting for $119 billion of that total, according to a recent report by Verisk. During the previous five-year period actual annual insured losses from natural catastrophes averaged $106 billion, the data showed, as severe thunderstorm activity dominated losses rather hurricanes and earthquakes.

Property & Casualty

September 04, 2024, 12:15 PM