7. Reinsurance Market Adapts by Focusing on Resilience and Stability - Highlights - From Convective Storms to Flood: The Growing Impact of Secondary Insurance Perils

5. "Quiet Record Year" Yields Huge Natural Catastrophe Insurance Losses

2023 was a "quiet record year" with $93 billion in total insurance losses related to natural catastrophes, despite no major headline storms.

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.

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.

2. Neighboritis: The Social Phenomenon Driving Up Insurance Costs

Non-peak peril trends include inflation, exposure growth, suburban sprawl, deferred maintenance, building in the Wildland-Urban Interface, increased precipitation, extreme heat waves, and social phenomena like "neighboritis" and legal system abuse.