Lightning Causes Record Losses in Q1

This year’s thunderstorms have been abundant and dangerous. In fact, the thunderstorm damage during the first quarter of 2017 has added up to a record high of losses for insurance and reinsurance companies. The total reached $5.7 billion. These record losses include lightning damage on homes and buildings.

This makes the second year in a row that insurance companies face heavy losses from thunderstorms. Many insurance companies now provide discounts or even demand their customers have a lightning protection system installed on their building to ensure the safety of people and assets being insured.

Q1 Insurance Losses BASE Lightning Protection Atlanta
via @SteveBowenWx on Twitter

 

If insurance companies are taking a hit then it also means that home owners and building owners who lease space to businesses are losing money or are forced to file claims with their insurance companies. Lightning is becoming more prominent and more dangerous to people and structures. This can be prevented, though, by a having a lightning protection system installed compliant with LPI, NFPA 780, and UL 96A lightning protection codes. You can find an installer by going to LPI’s website via the link above or click over to our Contact page and Adam Smith will contact you as soon as possible.

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