A recent report from Conning highlights that the homeowners insurance sector is under significant threat from the rising frequency and severity of natural catastrophes. The report indicates that losses from these events have more than doubled in recent years, spiking from an average of 3.9% of the industry’s direct premiums from 1991 to 2016, to 8.5% over the last seven years. Insurers are responding by increasing rates, tightening underwriting standards, and withdrawing from high-risk areas. Conning’s Director, Alan Dobbins, emphasizes the need for the insurance industry to develop risk management solutions to effectively address these emerging challenges before regulatory bodies intervene.