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Secondary perils are considered to be high frequency,
low to medium severity loss events
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The events include flood, wildfires, hailstorms, landslides,
drought and tornadoes
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Secondary perils are often the secondary effect
of primary natural perils e.g. flooding caused by a tropical storm
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Whereas primary perils tend to be location specific, secondary
perils are not as limited geographically and could potentially
occur anywhere
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Secondary perils need the same level of attention and resources from the project developer to mitigate as primary perils do
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In 2018, 60% of natural catastrophic insurance claims were caused
by secondary perils.*
