Recent hail storms in Minnesota have caused significant property damage, leading insurers like State Farm and American Family Insurance to reassess their risk models and raise premiums.
Tag: hail storms
CoreLogic Previews the Evolving Severe Convective Storm Risk Landscape in New Report
CoreLogic®, a leader in global property information, analytics and data-enabled solutions, released its 2024 Severe Convective Storm Report, detailing how severe thunderstorm risk is growing in the United States and highlighting the historic severe convective storm activity, also known as severe thunderstorm, seen in 2023. There were 141 days with large hail (two inch or greater) in 2023—the highest number of days in 20 years.
A Punishing Year of Thunderstorms Has Led to Record-Breaking Losses
Thunderstorms this year have battered the U.S. as never before, forcing businesses and insurers to grapple with record-setting levels of damage more typically found with hurricanes.