IMA – Property & Casualty Insurance Pricing & Market Update, 1Q 2025

The main topic of the report concerns changes in the property and casualty insurance market at the beginning of 2025.

Key findings include the continuation of climate and natural disasters, such as wildfires in Southern California and floods in North Carolina. The estimated losses from wildfires in the Los Angeles area could reach between $95 and $164 billion, with insured losses around $75 billion. Average commercial insurance rates are expected to rise from $2,726 in 2023 to $4,890 in 2030. Geopolitical tensions, such as the conflict between Russia and Ukraine, increase risks, especially in cyberspace and the maritime domain. Insurance costs are projected to double by 2030 in states with the highest risks of extreme weather conditions.