insured losses

Catastrophe modelling firm Karen Clark & Company (KCC) is the latest to issue an estimate for the insurance industry loss from recent major hurricane Melissa, pegging the total at US $2.4 billion.

Hurricane Melissa is only estimated to have caused insured losses in a range from US $1 billion to US $2.5 billion in Jamaica, according to catastrophe modeller Cotality, with the total expected pegged at US $1.5 billion, while the economic impacts are far higher demonstrating the protection gap.

Verisk’s Extreme Event Solutions division estimates that insured industry losses to onshore property in Jamaica from Hurricane Melissa will likely range between $2.2 billion and $4.2 billion.

Global insured catastrophe losses have now surpassed the $100 billion level in 2025, according to Steve Bowen, Chief Science Officer at reinsurance broker Gallagher Re. But the milestone is no longer the talking point it once was, as the $100 billion figure gets eclipsed year after year.

According to Verisk, the global data analytics and technology provider the insurance industry should expect average annual losses (AAL) from global natural catastrophes of $152 billion, with the potential for the total to far exceed that amount in any given year.

Catastrophe data aggregator PERILS AG has expanded its real-time industry loss forecasting software tool, known as Wind-Jeannie, to cover typhoon events in Japan and has also updated the existing loss forecasting tools for Europe and Australian perils.

Were the 1926 Great Miami hurricane to occur again today, analysis from catastrophe risk modelling specialists Karen Clark & Company (KCC) suggests that more than $5 trillion in insured property value would be affected by hurricane force winds, driving well over $200 billion in insurance and reinsurance market losses.

Catastrophe data aggregator PERILS has increased its insurance industry loss estimate for extratropical windstorm “Éowyn”, a storm that impacted the Republic of Ireland, Northern Ireland and the Central Belt of Scotland in early 2025, adding 7% to take the estimate to EUR 747 million.

CatIQ, the Toronto-based independent catastrophe insurance data provider and a subsidiary of PERILS, has estimated the one-year industry loss caused by the flash flooding that impacted southern Ontario on July 15 and 16 to be CAD $899 million.

Insured losses from natural catastrophe events around the globe in the first half of 2025 are estimated to have reached $84 billion, 55% higher than the decadal average, and marks the highest H1 total since 2011’s $136 billion, according to a recent report by reinsurance broker Gallagher Re.