Secondary perils responsible for big share of insured losses: RMS

Risk Management Solutions Inc.’s 2022 Catastrophe Review shows that secondary perils like wildfires, floods and severe storms, along with social inflation and large exposure changes, have contributed significantly to overall insured losses over the last five years, Captive International reported. The report from RMS, a Moody's Analytics company, also said that throughout 2022 there were increasingly large flood losses across Latin America, Australia, Europe and Asia.