Why Working with a Risk Consultant on Your Biggest Property Exposures Is a No Brainer
White Paper Summary
When it comes to managing property risk, the conversation doesn’t get too far before natural catastrophes come into play.
Hurricanes, wildfires, ice storms — the continental U.S. has had its fair share of Nat CATS, and these incidents are growing in both size and scale. In the last two years, there were a total of 51 named hurricanes. Losses for 2021 are estimated to cost over $67 billion, making it among the most expensive hurricane seasons yet, according to the National Oceanic and Atmospheric Administration.
“The perils have always been there. Hurricanes have always been there. Floods have always been there,” said Scott Ewing, regional manager of Risk Consulting for the Americas at AXA XL. “But the intensity, the loss amounts, the number of events — they’ve all been on a much larger scale.”
It’s changed the risk landscape for clients, he added, in that, as a risk consultant, he’s seen more portfolio impact versus individual risks.
“It’s proven a significant influence in how we provide our services and in how we develop our risk consulting tools.”
Risk consulting for property risk has become a necessary tool in the risk manager’s arsenal. But what exactly will they gain? Here’s a deeper look at what risk consulting can do to protect against today’s biggest property threats, as well as what to look for in a risk consulting partner.
To learn more about AXA XL, please visit their website.