The survey also noted that the cost of extreme weather events is rising. Insured losses from severe storms in the US surged from $30 billion in 2022 to more than $50 billion in 2023. As a result, many insurance executives are prioritizing practical risk management strategies, such as manual inspections, deductible strategies, and actual cash value (ACV) roof endorsements. Non-renewals are only prioritized by 32% of the insurers surveyed.
