AM Best: Secondary perils generate increasing number of insured losses
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AM Best: Secondary perils generate increasing number of insured losses

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As catastrophes have increased in both intensity and frequency, secondary perils such as wildfires, tornadoes and severe thunderstorms account for a larger share of the losses from catastrophe events than primary perils, according to a new report from ratings agency AM Best.

“The fact remains that secondary perils have not been modeled to the same extent as primary perils,” said John Andre, managing director, AM Best.

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