3. Incentivizing Policyholder Risk Mitigation - Highlights - From Convective Storms to Flood: The Growing Impact of Secondary Insurance Perils

10. Simple Actions by Homeowners Help Boost Community Resilience

As trends continue, policyholders are likely to face higher prices, decreased coverage availability, and increased risk retention through higher deductibles. To mitigate these issues, resilience measures are essential.

1. Higher Frequency, Localized Impacts: Understanding 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.

7. Reinsurance Market Adapts by Focusing on Resilience and Stability

The reinsurance market plays a crucial role in managing and mitigating risks in the insurance industry.

9. Policyholders Become Their Own Risk Managers

The insurance industry is increasingly communicating with policyholders and the public about non-peak perils as more severe events and losses occur.