The Effects Of Natural Disasters On Insurers Are Coming Home To Roost

Record floods that submerged parts of the Midwest as a result of a deadly combination of melting snow and heavy rains have caused $3 billion in damages so far, and more flooding is in the forecast, according to news reports. This recent natural catastrophe is once again sending warning signals about the intensifying weather-related events that are likely to continue impacting the US in the years to come, including regions that typically haven’t seen wild weather in the past. “They’ve impacted, I think, areas that would not have traditionally seen those sorts of catastrophes,” said Jim Epting, corporate senior vice president at Burns & Wilcox and managing director of the Atlanta office, referring to catastrophes from 2018.