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Natural catastrophes are on track to break loss records in 2023, Swiss Re reported this week. "The cumulative effect of frequent, low-loss events, along with increasing property values and repair costs, has a big impact on an insurer's profitability over a longer period," said the carrier's chief economist. For the first time, severe thunderstorms are a major contributor to the year's historic natural catastrophe losses.
Property & Casualty
December 08, 2023, 6:00 AM