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Verisk sets benchmark for insured catastrophe losses at $171B yearly

Verisk said the average annual insured catastrophe loss benchmark rose by $19B from a year ago, even though the U.S. saw no hurricane landfalls in 2025 for the first time in a decade.

Reported · Written up by our desk · Reinsurance

Verisk, via Insurance Journal, said the global insurance industry should be prepared to absorb an average of $171 billion in insured catastrophe losses each year, a figure that is up $19 billion from the prior year.

Verisk said the increase comes as property values and insured values continue to grow worldwide, and it highlighted that 2025 had no U.S. hurricane landfalls for the first time in a decade while catastrophe-loss expectations still rose.

The analytics firm warned that years without major U.S. hurricane activity can lead to softer rates and looser underwriting, because markets may treat risk as having eased, even as the underlying risk landscape changes.

Verisk added that global insured catastrophe losses have exceeded $100 billion for six straight years, driven more by secondary perils such as record-setting wildfires and severe thunderstorm activity that produced hail, wind and tornado damage across many communities rather than a single dominant event.

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