A Risk Insight report from Lloyd's Class of Business
Last year was the costliest year for US natural catastrophes on record due in large part to the very active North Atlantic hurricane season. Combined total economic losses from 2017’s Harvey, Irma, and Maria storms are projected to reach over $200bn. Yet insurance is expected to cover only half of these losses.
As North Atlantic communities brace themselves ahead of this year's hurricane season, our latest report looks back at events from last year to understand what we can learn.
'After the storms’ considers the losses, expected and unexpected - as well as some of the key lessons learned from Harvey, Irma and Maria (HIM) and the 2017 hurricane season in general. At a time when climate change is leading to increasingly more frequent and powerful storms, the report makes a compelling argument for the issue of underinsurance to be addressed.