While forecasts are calling for more major storm events in 2013, A.M. Best believes the industry as a whole is well-prepared to address potential catastrophic activity because insurers in the space have continually, actively engaged in risk management and taken action to address the growing frequency of such events.
Last year insurers held comfortable catastrophe loss rates until Superstorm Sandy came along and provided major underwriting losses; forecasts are predicting a similar course of events this year, with fewer named storms and hurricanes anticipated, but more major hurricanes expected.
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