16 July 2016 | CIPR Newsle er

By Sara Robben, Sta s cal Advisor The number of U.S. insured catastrophe losses have been below average in recent years. The severity of catastrophic events in 2011 and 2012 caused an increase in the amount of insured losses, as well as an increase in homeowners direct loss ra os, which is reflected in Figures 1 and 2. Con-versely, the years 2013, 2014, and 2015 were less than av-erage for severe catastrophic losses, which is also reflected in the figures. This ar cle features data for direct loss ra os for the homeowners’ lines of business and discusses the impact of catastrophes on those loss ra os. Insured losses resul ng from catastrophes resulted in roughly $16.1 billion dollars in 2015. (Figure 2.) Severe thunderstorms caused $9.6 billion dollars in losses, and winter storms caused $3.5 billion in losses. In comparison, catastrophes occurring in 2014 had roughly $15.5 billion dollars of insured losses, with most of the loss-related natu-ral disasters due to weather events; namely winter storms which caused an es mated $2.3 billion in insured losses, and severe thunderstorms and tornadoes losses that to-taled $12.3 billion dollars. Catastrophic losses in 2013 to-taled $13.1 billion dollars insured losses and were also largely due to severe thunderstorms and winter storms. Hurricane Irene occurred in 2011, as well as several wild-fires, tornadoes and winter storms. While there were fewer catastrophic events in 2012, Superstorm Sandy did cause damage; however, it was not as severe as the damage that occurred in 2011.

The NAIC publishes market share reports for various types of insurance. For market share informa on regarding other lines of business, the 2016 Property and Casualty Market Share will be published in mid-2016. Once published, the can be found on the Research and Actuarial Department website at www.naic.org/research_actuarial_dept.htm.

D G – U.S. I C L

F 1: H L R A A

Sara Robben is a Sta s cal Advisor at the Na onal Associa on of Insurance Commis-sioners (NAIC). She has worked in the Re-search and Actuarial department of the NAIC for the past eight years. Her current projects include staff support for the Cyber-security (EX) Task Force, the Catastrophe Response (C) Working Group, the Catastro-

phe Insurance (C) Working Group, and the Transparency and Readability of Consumer Informa on (C) Working Group. Ms. Robben worked for AIG early in her career as a Claims Adjuster and later as a Financial Analyst. She also worked on the technical side as a LAN Administrator and Technical Trainer. Ms. Robben taught technology courses for DeVry University for ten years including cours-es in computer networking, web architecture, web page design, data-base administra on, programming, and network and opera ng sys-tems security. Ms. Robben holds a bachelor’s degree in Mathema cs and Sta s cs, and a master’s degree in Project Management.

F 2: U.S. I C L ($ , 2015 )

Source: The NAIC 2015 Property and Casualty Annual Statement Data.

Source: PCS/ISO.

July 2016 | CIPR Newsle er 27

© Copyright 2016 Na onal Associa on of Insurance Commissioners, all rights reserved. The Na onal Associa on of Insurance Commissioners (NAIC) is the U.S. standard-se ng and regulatory support organiza on created and gov-erned by the chief insurance regulators from the 50 states, the District of Columbia and five U.S. territories. Through the NAIC, state insurance regulators establish standards and best prac ces, conduct peer review, and coordinate their regulatory oversight. NAIC staff supports these efforts and represents the collec ve views of state regulators domes cally and interna onally. NAIC members, together with the central re-sources of the NAIC, form the na onal system of state-based insurance regula on in the U.S. For more informa on, visit www.naic.org. The views expressed in this publica on do not necessarily represent the views of NAIC, its officers or members. All informa on contained in this document is obtained from sources believed by the NAIC to be accurate and reliable. Because of the possibility of human or mechanical error as well as other factors, however, such informa on is provided “as is” without warranty of any kind. NO WARRANTY IS MADE, EXPRESS OR IM-PLIED, AS TO THE ACCURACY, TIMELINESS, COMPLETENESS, MERCHANTABILITY OR FITNESS FOR ANY PARTICULAR PURPOSE OF ANY OPINION OR INFORMATION GIVEN OR MADE IN THIS PUBLICATION. This publica on is provided solely to subscribers and then solely in connec on with and in furtherance of the regulatory purposes and objec ves of the NAIC and state insurance regula on. Data or informa on discussed or shown may be confiden al and or proprietary. Further distribu on of this publica on by the recipient to anyone is strictly prohibited. Anyone desiring to become a subscriber should contact the Center for Insur-ance Policy and Research Department directly.

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