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#severeweather #insurance | Andrew Siffert, CCRMP Severe Weather Season Is Back! It is always sobering to see damage & devastation from #severeweather. Although I just reported on the severe weather for the #insurance industry this morning, many...

I keep forgetting to cross post on this platform. Anyway posted y his yesterday morning. Here are some thoughts on how severe weather season is progressing so far this year and some thoughts on how big of loss recent events will be for the insurance industry. www.linkedin.com/posts/andrew...

The bottom line is that 2025 will be an interesting year, so buckle up.

years like 2011, with significant earthquakes (Tohoku and Tsunami), floods (Queensland & Thailand), U.S. severe weather (Joplin Tornado), and an active hurricane season with landfalls like Irene, to impact overall rate environment of the insurance industry across multiple regions.

The insurance industry is well capitalized, and although these fires are a significant loss for the insurance industry, typically, it takes several events across the world over a given year,

Undoubtedly, these fires will have local impacts and will likely speed up the ongoing regulatory changes and accelerate the usage of risk models to help understand wildfire hazards.

Overall, it is too early to predict what effect these California wildfires will have on the insurance market. These January wildfires impacted the industry in what is typically a quiet month, which is not a good start to the 2025 insurance cycle.

Although the California wildfires started on January 7th and much-needed rain has now fallen over the devastated areas, attention is turning to the impact these events will have on the insurance industry. I was happy to join BBC News for a quick interview about these impacts. 1/n

The arctic air is here in Minnesota and will remain in place into Tuesday. Temperatures will remain below zero through Tuesday morning, with wind chill values down in the -20 to -40 range through Tuesday morning as well. People should not live here during winter. #M4GW

BMS Wildfires Update 01/14/2025

Do you want to understand the Southern California wildfires and the insurance industry impacts read this update. ⬇️ #wildfires #California #palisades #cawx

www.bmsgroup.com/news/bmswild...

Your Home-Insurance Bill Has Only One Way to Go: Up The propensity to build houses in disaster-prone areas is a big driver of the record underwriting losses roiling insurance markets, forcing rates ever upward.

It is always a delight to discuss catastrophic events and insurance with the WSJ, helping to educate the public on the complicated aspects of weather, social and economic factors, and development and how they all interact to impact the insurance industry. More detail 🔽
www.wsj.com/finance/home...

This is why the Florida housing market, regardless of price or insurance costs, will always be attractive. #M4GW

So, after two different tries, we officially ice on here in Minnesota, just one day after the long-term average of Dec 10th. Last year, we had a record late ice season, one of the shortest ice seasons ever. Notice very little ice trend in ice on dates #M4GW

I am here to look around, skeet about how extreme weather impacts the insurance industry. I also documents days like today here in Minnesota where I get to wear my favorite t-shirt and proclaim #M4GW Thanks to those that are following!