3 Steps to Building a Targeted Audience
3 Steps to Building a Targeted Audience
5 Steps to Creating Successful Ads

Insurance companies raise rates after storms like Beryl [Video]

Categories
Home Based Business

The U.S. experienced 28 separate billion-dollar weather and climate disasters in 2023, the most ever.

NEW YORK — Destructive storms like Hurricane Beryl that knocked out power to 3 million homes and businesses in Texas are growing more frequent and intense, and insurers are jacking up rates in response.

That could mean big profits for property and casualty insurers like Allstate and Progressive in the coming year. Investors have bid up shares in the sector roughly 19% so far this year, outpacing the S&P 500’s 17% gain. Global insurance giant Swiss RE expects the broader sector’s return on equity, a key measure of profit, to grow 9.5% in 2024, well above last year’s 3.4% growth.

Rate hikes have been a way for property insurers to offset the cost of catastrophic events. Hurricanes account for most insured catastrophe losses, according to CFRA. Hurricane Ian in 2022 is a reminder of the …

How Much Traffic do you Really Need?
How Much Traffic do you Really Need?
12 Steps to Create Videos