2012 may have been one of the costliest on record for the United States Storm Damage Restoration
There is a new study that shows 2011 may have been one of the costliest years on record for insurance companies and storm damage. There were so many separate incidents of storm damage through out the United States.
There have been single events that caused more damage, those events being hurricanes, but it is unusual to have so many separate Catastrophic Storms in one year.
2012 Study Findings of Home Owner Claims satisfaction
“Last year proved to be one of the most devastating years for insurers with record breaking storm losses and some of the largest claim payouts ever recorded in the US property insurance industry. Several insurers have reported their 2011 losses rivaled the 2005 hurricane season in the Gulf. Insurers were impacted by an unprecedented number of CAT events in the US in 2011, resulting in CAT-related losses more than doubling the total reported in 2010. Figure 1 provides a historical comparison of the total number of disasters that incurred over one billion dollars in damages in a calendar year. There were a total of 14 billion-dollar events in 2011, the most ever recorded since this tracking began over 30 years ago.”