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The insurance field refers to those storms as “secondary perils”—the other term of art is “kitty cats,” a reference for their currently being smaller sized than major purely natural catastrophes or “nat cats.”
The problem is fast becoming a crisis that stretches far past the country’s coastal states. That’s owing to a different, much less-talked-about type of catastrophe that has wreaked havoc on states in the Midwest and The nice Plains, producing billions of pounds in harm.
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