Uninsured Losses Continue To Rise From Nat Cats. These Emerging Resiliency Approaches Can Help

Natural catastrophes are growing in severity, resulting in an increase in uninsured losses. Numerous technologies are emerging to aid resiliency.

Fires, floods, earthquakes, mudslides and more are damaging businesses for extended periods. In total, insured losses due to natural catastrophes in 2018 were $90 billion — a scary number. Even more terrifying: Total losses were $225 billion.

It doesn’t help, either, that these natural catastrophes are growing in intensity and adding to the gap between insured and uninsured losses.

In 2017, the U.S. experienced 71,499 wildfires. Approximately 10 million acres burned. The California Department of Insurance reported insurance claims from October through December equalling close to $12 billion. It was the costliest fire season on record.

Then 2018’s wildfires happened.