Thursday, June 12, 2014

This week in Severe Weather: It's Hail Season!

According to Matthew Nielsen, a director and meteorologist at RMS, hail is no longer an "attritional peril," and insurers would be wise to make sure they're covered in case of widespread, individual events, like those we saw across the Midwest this week.

"Widespread hail events in the U.S. are not uncommon and can cause considerable damage to cars, homes, and buildings," he said this week, "while single hail events can produce very large losses. With 60% of average annual storm losses in the U.S. coming from hail, insurers should consider looking at reinsurance for these events.”



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