Property Claim Services – 2019 Year End Update

The PCS 2019 Year End Update reported that nationwide PCS insured losses for 2019 were $24.0 billion, which is above the long term (1950-2018) average of $17.4 billion, and below the 2004-2018 average of $35.5 billion and the 5-yr (2014-2018) average of $38.2 billion. 2019 was highlighted by several severe thunderstorm events, the Kincade and Saddle Ridge fires in California, and a rapidly intensifying Major Hurricane Dorian that brought catastrophic damage to the Bahamas and paralleled the southeastern U.S. before impacting the Outer Banks of North Carolina as a Category 1 storm.

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