WHAT IS A SECONDARY PERIL?
A quick reminder
WHAT IS A
SECONDARY PERIL?
A secondary peril is high frequency, low to medium severity loss events
The events include flood, wildfires, hailstorms, landslides, drought and tornadoes
Secondary perils are often the secondary effect of primary natural perils e.g. flooding caused by a tropical storm
Whereas primary perils tend to be location specific, secondary perils are not as limited geographically and could potentially occur anywhere
As secondary perils increase in severity, project developers must introduce mitigations for the lifecycle of the project
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