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US property claims fall to a five-year low, costs rise
Verisk data show Q2 2026 US property claim assignment volume fell 12.2% year over year to about 1.24 million, while non-catastrophe claims drove much of the decline.
US property claim assignment volume fell to about 1.24 million in the second quarter of 2026, the lowest second-quarter total in recent years, according to Verisk’s Quarterly Property Report covering April through June 2026.
The report said volume was down 12.2% from Q2 2025 and 13.1% below the five-year average, extending a four-year decline. It also found the drop was concentrated in routine claims, with non-catastrophe assignments down 18.7% versus the five-year average, while catastrophe assignments slipped 4.3%.
As a result, catastrophe property claims accounted for 43% of Q2 volume, up from 34% five years ago, even as the number of PCS-designated catastrophe events stayed relatively steady, the report said.
In Canada, Q2 claim assignment volume declined 7.7% from Q2 2025, though 2026 volume still ran 14.3% above the prior five-year average, according to Verisk’s report cited by Risk & Insurance.