Less severe weather-related disasters are becoming more frequent and adversely affecting the P/C insurance industry's underwriting results, according to a report from Moody's. "In the past, losses from non-hurricane weather-related events were less volatile, allowing insurers to charge sufficient premium to offset exposure to these perils. But this recent uptick in volatility is problematic for insurers given the thin underwriting margins in what is largely a commodity business, particularly in the homeowners segment," the report said.

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