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Natural catastrophe-insured losses are estimated to exceed $135 billion globally in 2024, according to insurance provider Swiss Re Group. AXIS (AXS) CEO Vince Tizzio sits down with Julie Hyman and Josh Schafer to explain some of the major risks the insurance industry is evaluating, the first being natural catastrophes.
"And that can take the form of wildfires, hurricanes, tropical storms, hail, and all the like," Tizzio tells Yahoo Finance, pointing to other areas like specialty liability insurance and the "social inflation" of liability coverage.
"Increasingly, the complexion of how property damages are occurring is really aligned to the changing weather patterns," Tizzio noting the assurances this sort of coverage provides not only property owners but global commercial operators.
As wildfires blaze across southern California and displace over 80,000 people under mandatory evacuation, Yahoo Finance got a chance to interview Susman Insurance Services President Karl Susman about his insurance advice when filing insurance claims after a devastating disaster.
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This post was written by Luke Carberry Mogan.