Catastrophe Claims

Catastrophe claims are insurance payouts triggered by large-scale, unexpected events like hurricanes, earthquakes, or floods. When such natural disasters occur, they cause extensive damage to property, disrupting lives and requiring significant financial assistance. Insurance companies process these claims to cover the cost of repairs, rebuilding, or other losses. Because these events often affect many people at once, they can lead to substantial spikes in claims, impacting the insurer’s resources and pricing strategies. In essence, catastrophe claims are the financial responses to major, widespread disasters beyond normal, everyday incidents.