Insurance companies have lost billions. Now they are asking property owners to chip in.

Steve Dascole
Steve Dascole
Director of Personal Risk Management

When it comes to catastrophes, the past two years have been dramatic, particularly in California. As a result, insurance companies are facing massive payouts for losses.

In 2018, insurance companies in California had a 200% loss ratio on their homeowner line of business.  That means for every dollar in premium received, $2 were paid out in homeowner claims.

As 2019 progresses, property insurance rates continue to rise and insurance companies are imposing higher scrutiny when assessing property exposure to risks. Many property owners have seen their insuranc e rates rise from 10-20 percent and, in areas that are prone to severe fire risk, these increases jump to 40-50 percent.

For more information, please contact your G2 advisor or G2 Insurance Services at 415.426.6600 / connect@G2insurance.com.

InsurersNatural Disasters

Personal Risk Management, Property, Risk Management