When you have the Insurance Equivalent of a “Perfect Storm”, Rates Ultimately Go Up!
Across the world, climate change is wreaking havoc on the environment. In the United States, scientists, citizens, and the government all feel the negative impact global warming has on the environment, such as an increase in natural disasters. For insurers, claims have been quite high because of the stronger hurricanes on the east coast, increased wildfires on the west coast, and wind and hailstorms in the Midwest.
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