Property claims volume rose 36% in 2024, driven by a massive rise in catastrophe claims thanks in part to a severe Atlantic hurricane season, a new report shows.
Verisk issued its Q4 Property Report on Thursday, which shows the rise in property claims was driven by a 113% increase in catastrophe claims.
Claims patterns showed a shift from traditional winter storm impacts to late-season hurricane activity, which impacted the Southeast, where costs increased at six times the national rate, according to the report.
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