Bed Bugs Claims Climbing Insurance Charts
by Marissa Henderson
August 1, 2019
Dogs and deer might wreak the greatest havoc for insurers, but according to Allianz Global & Specialty, bedbugs are a growing liability as well.
According to Allianz’s analysis of 470,000 claims filed over a five year period, bedbug incidents of bites and infestations accounted for 8% of animal claims, leading to losses of $2.84 million. The stat is mostly worrying for the insurer because it is a growing liability. The insurers analysis reveals a gradual increase in the number of related claims over the past five years.
Findings of a 2018 survey by the National Pest Management Association supports this rising bed bug trend as well. In the NPMA’s Bugs without Borders survey, almost all (97%) of pest professional have treated bed bugs in the past year with the majority of them saying that overall bed bug service work and the prevalence of these pests are increasing.
Hypothesized reasons for the increase include global awareness of damaging effects of pesticides on human health and the environment, increased world-wide exposure through travel, and urbanization which brings infested household in close contact with others.
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