Extreme weather events—from hurricanes and derechos to hail and fire storms—can be unpredictable, destructive and costly. Only having a single year of peril data could give home insurance carriers and homeowners a false sense of security.
LexisNexis® Risk Solutions publishes an annual report that provides seven-year trends for loss cost, frequency and severity across eight different perils: wind, hail, fire and lightning, weather related water, non-weather related water, theft, liability and other perils. The 2023 report, which is based on property exposures and losses for the period ranging from 2016 through 2022, highlights the importance of using seven-year trend data for building more accurate forecasts.
Download the most recent report today to see these insights and more:
Here's a sample of what you'll find inside:
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