From CNBC: 2025-05-22 18:09:00

John Cangialosi inspects Hurricane Beryl, the first hurricane of the 2024 season. NOAA predicts a 60% chance of an above-average 2025 hurricane season with 13-19 named storms, 6-10 hurricanes, and 3-5 major hurricanes. Hurricanes Helene and Milton caused $37 billion in insured losses in 2024. U.S. property casualty insurance industry saw best underwriting performance since 2013 despite losses.

Insurers face over $50 billion in losses from California wildfires. Severe storms in the Midwest caused $10 billion in insured losses in the first quarter. Insurance industry faces existential threat from increasing losses due to climate risks. Aon attributes losses to growing exposure and higher costs of homes and properties. Industry works on building resiliency and mitigation efforts to combat losses.

Jefferson County Parish President highlights efforts made since Hurricane Katrina to improve disaster recovery. $13 is saved for every $1 spent on mitigation efforts. Improved coordination among key agencies ensures efficient response to disasters. Insurance industry faces challenges in providing affordable insurance due to rising losses from climate-related disasters.



Read more at CNBC: Insurers brace for impact with above-average hurricane season forecast