The most expensive insured weather threat isn’t hurricanes anymore

A First Street analysis found cumulative insured losses from hail, damaging winds and tornadoes have now surpassed tropical cyclones for the first time. Severe thunderstorms drove about $82 billion in global economic losses in 2025, with U.S. severe-weather events accounting for about $68 billion of last year’s losses. Since 2000, cumulative insured losses from severe thunderstorms have risen to roughly $794 billion.