Catastrophe Losses and Insured Damage
Catastrophe coverage is where property portfolios are tested all at once. This category collects named-storm landfalls, wildfire seasons, severe convective storm outbreaks and the loss estimates that follow, along with the claims-handling and reinsurance consequences.
- Florida Business Interruption Claims After Hurricane Damage
Business interruption insurance is typically included in a commercial property policy or added through endorsements and supplemental coverage. It is meant to replace lost income and certain continuing expenses when covered hurricane damage forces a business to stop operations. The piece also directs readers to The Hodge Law Firm for a consultation.
- Gallagher Re reports multi-billion-dollar loss from early ...
Gallagher Re warned that US severe convective storm activity from August 9 to 12 will add another multi-billion-dollar loss for insurers. The broker said year-to-date US SCS losses have climbed above $35 billion in 2026, after a slow start to the year gave way to intense storm activity. It estimated the August outbreak will produce a low single-digit billion loss and at least 25% more in direct economic damage once uninsured losses are included.
- Viewpoint: Storm Resilience Must Account for the Assets ...
In 2025, there were 23 billion-dollar disasters in the United States, and 21 were severe storms. The average five-year damage cost last year was $40.9 billion, up from $22.5 billion adjusted for inflation 10 years earlier. The data shows storm costs continuing to trend higher.
- US severe convective storm (SCS) industry losses exceed $35bn in 2026 so far: Gallagher Re - Artemis.bm
Gallagher Re said US severe convective storm industry losses in 2026 have climbed above $35 billion after the August 9-12 outbreak across the central and eastern states. The broker said the event is likely to produce a low single-digit billion-dollar insurance loss. It added that total direct economic cost will be at least 25% higher after uninsured and underinsured losses.
- Illinois’ Historic Storms Could Drive Up Insurance Costs
Illinois recorded $4.6 billion in costs from billion-dollar weather and climate disasters in 2023 and another $4 billion in 2024, according to NOAA. Both years were more than three times the state's $1.3 billion historical average. Illinois-licensed property and casualty insurers wrote $1.8 billion in commercial property premiums in 2025.
- Presurance narrows to Texas homeowners as commercial lines wind down
Texas has become the focus of Presurance as it narrows away from commercial lines and concentrates on homeowners coverage. The shift comes as severe convective storms drove more than $52 billion in insured losses nationally in 2025, according to Insurify. Cotality said more than 235,000 Texas homes were affected by hail alone in its 2026 risk report.
- August 9th - 11th US Midwest SCS outbreak may rank as a top-10 industry loss: Guy Carpenter - Artemis.bm
Guy Carpenter said the August 9-11 severe thunderstorm outbreak in the U.S. Midwest could become a top-10 severe weather insurance loss event. The broker estimated insured losses could reach about $5.1 billion or more. It cited severe winds in Chicago, Indianapolis and Columbus, Ohio, and said insurers may tap reinsurance capital.
- Progressive renews $2.19bn of CAT XoL reinsurance for ...
Progressive renewed its property catastrophe excess-of-loss reinsurance program at the June 1 renewals. The tower now provides $2.19 billion for a first Florida event and $1.85 billion for a first event in other states. The program carries a $300 million retention outside Florida and $75 million for a first Florida event.
- Could your Florida business survive being forcefully closed ...
Florida business interruption coverage usually follows covered hurricane damage that forces a shutdown, but it depends on policy terms. Triple-I said hurricane deductibles are often 2% to 5% of insured property value for hurricane-caused losses. Florida regulators reported more than 750,000 claims and $14.4 billion in insured losses from Hurricanes Ian and Nicole as of March 9, 2023.
- Spokane wildfires could cost (re)insurers $1 billion-plus, warns Gallagher Re
Gallagher Re said wildfires around Spokane, Washington, could cost insurers and reinsurers more than $1 billion and may become the costliest event in state history. The Complex Fire had destroyed more than 700 homes, businesses and other structures, and officials said the count could approach 1,100. Gallagher Re said insured losses are likely to reach at least the hundreds of millions.
- More Frequent Losses Lead to Large Property Risk Sharing
U.S. natural catastrophic insured property losses totaled $98.8 billion in 2022, up from $93.3 billion in 2021. The year also saw a record 18 separate weather events that each caused more than $1 billion in damage. Hurricane Ian produced $112.9 billion in damage and 152 deaths.
- Commercial Roof Damage Public Adjuster - Claims - DCS PIA
The page advises property owners to photograph roof damage, document the date and time, and apply emergency tarps or temporary coatings to prevent water intrusion. It also tells claimants to keep receipts for emergency repairs and not begin full repairs until the damage has been documented and the claim is resolved. The instructions say to contact the insurance carrier, obtain a claim number, and request certified weather data.
- Commercial Hurricane Public Adjuster | Texas Business Claims
Commercial hurricane claims can involve property damage, business interruption and extra-expense losses. Texas claim rules cited in the text require insurers to acknowledge a claim within 15 days and pay accepted claims within five business days after notice of acceptance. The guidance also urges policyholders to document damage, preserve financial records and avoid full repairs before settlement.
- Explore business insurance news and insights
The page promoted Global Risk Dialogue Commercial Insights and focused on emerging commercial risk issues. It highlighted severe convective storms, geopolitical and macroeconomic uncertainty, AI and cyber liabilities, aging infrastructure, data centers, electric mobility, offshore renewable energy and aviation. It also cited global insured losses from severe convective storms of $208 billion over the last three years.
- 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.
- Climate-Related Capital Needs: Storms, Heat & Insurance
The property and casualty market has contracted sharply in high-risk geographies, according to the text. In 2026, multiple national carriers exited California, Florida, Louisiana and parts of Texas, leaving some owners with state-backed coverage or higher private premiums. Deductibles of $25,000 to $100,000 or more and claims timelines over 90 to 180 days have widened the funding gap after storms.
- 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.