Ice, Fire, Wind, and Water

A whitepaper series from Verisk

Keeping pace with changing risk amid climate-driven growth of natural hazards

U.S. property/casualty insurers paid an estimated $176 billion in natural catastrophe claims in 2020 and 2021, and while losses have been increasing over the past 4 years, examining a longer time period reveals considerable variability in year-over-year losses. Most of these claims flow from acute weather and climate-related perils, including wildfire; hail and severe thunderstorms; hurricanes and associated storm surge; and other forms of flooding. Tornadoes, derechos, and earthquakes add further to property insurers’ ever-growing appetite for risk data.

Sophisticated sources of data can help insurers gain competitive advantages in the market. An innovative data provider—using proprietary algorithms, scientifically derived weather and climate models, and the complementary expertise of specialized partners—could be the difference maker that helps an insurer navigate a turbulent and changing climate.

This report series examines recent activity, trends, and data-driven tools to help insurers and communities better measure and mitigate risk surrounding three especially destructive categories of hazards: Hail and severe thunderstorms, wildfires, and hurricanes.

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Verisk provides detailed analytics of weather, climate, and environmental perils to help you understand and manage risk.

Explore weather risk

Learn about key perils of focus

Wildfire Risk and Mitigation

Wildfires have increased dramatically during the past decade. Loss exposure will continue to grow as the wildland-urban interface (WUI) and other high-hazard areas are further developed.

Learn about wildfire risk and mitigation

Flood and Hurricane Risk

In the post-industrial age, rising CO2 levels are warming the atmosphere and oceans, allowing more storms to develop and strengthen.

Learn about flood and hurricane risk

Hail and Severe Thunderstorm Risk

Changing weather patterns are creating new challenges for insurers as the footprint grows for frequent hail events and the severe thunderstorms that often produce them.

Learn about hail and severe thunderstorm risk