California storms to add to attritional loss tally for property insurers
The flooding and storms in California are likely to represent an attritional, rather than a major catastrophe loss for the property market, sources told this publication. However, they are potentially sizeable enough to make carriers “think twice” about writing flood insurance in the Golden State.
Heavy precipitation has been ongoing for three weeks since December 26, as a result of powerful atmospheric rivers coursing through the state.
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