From Convective Storms to Flood: The Growing Impact of Secondary Insurance Perils
Primary insurers should take a comprehensive approach to mitigate non-peak peril risk.
Underwriting is no longer as simple as relying on tools or models to generate an adequate number.
The reinsurance market plays a crucial role in managing and mitigating risks in the insurance industry.
The primary question clients ask is about the insurance company's view of risk, particularly because there is no standard approach to pricing, capacity, or terms and conditions for non-peak perils.
Non-peak or secondary catastrophe perils are characterized by high event frequency and localized occurrences that don't typically cause large single events, unlike peak perils such as hurricanes and earthquakes.
