"Insured losses are particularly significant because as they mount, they can cause ripple effects for homeowners far away from the disaster zone. Home insurers carry their own policies, known as reinsurance, to cover major loss events. As mounting payouts drive reinsurance costs higher, those costs are often passed along to homeowners through higher premiums."
"Although the 2023 hurricane season was relatively mild, there were 28 weather and climate disasters across the U.S. with damages exceeding $1 billion each, a record annual number even after adjusting for inflation, according to the NOAA National Centers for Environmental Information."
[
Collection
]
[
|
...
]