Premium pressures, market capacity, and FAIR plan reliance define new landscape
The commercial property and casualty (P&C) insurance market is continuing to adjust following a series of significant natural catastrophes in early 2025.
According to USI Insurance Services’ 2025 Commercial Property & Casualty Mid-Year Addendum, global insured catastrophe losses reached an estimated $50 billion in the first quarter, placing it among the highest first-quarter losses recorded.
In January, the Palisades and Eaton wildfires in Los Angeles destroyed more than 16,000 structures across 57,000 acres, resulting in $53.8 billion in damages, with insured losses expected to exceed $30 billion.
Severe convective storms and tornado outbreaks across the southern and eastern United States in March added to the tot…