Record insured losses: Secondary perils and the cover gap

Global natural-disaster economic losses fell to $260 billion in 2025, but insured losses stayed high at $127 billion, the sixth straight year above $100 billion. The report said severe convective storms generated $61 billion in insured losses globally in 2025, the third-highest annual total on record for that peril. Since 2000, secondary perils have produced at least $1.56 trillion in insured losses, versus about $1.04 trillion for primary perils.