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US P&C Insurers Seek Higher Prices and Advanced Models in Response to Severe Convective Storms (SCS)
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Overview
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US P&C insurers are taking proactive measures to mitigate risks related to severe convective storms (SCS). They are seeking rate hikes, adjusting coverage levels, and considering exiting areas where returns are unfeasible. Insurers are also enhancing their modeling capabilities and ramping up risk assessment efforts.
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How will the enhanced modeling capabilities and risk assessment efforts affect the insurance market?
How will the rate hikes and adjusted coverage levels impact the insurance industry?
What are the potential consequences of insurers exiting unfeasible areas?
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