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Catastrophe Statistics

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MAJOR CATASTROPHES: UNITED STATES

Property Claim Services (PCS), a Verisk Analytics business, defines a catastrophe as an event that causes $25 million or more in insured property losses and affects a significant number of property/casualty policyholders and insurers. PCS estimates represent anticipated insured losses from natural and man-made catastrophes on an industrywide basis, reflecting the total net insurance payment for personal and commercial property lines of insurance covering fixed property, vehicles, boats, related-property items, business interruption and additional living expenses. They exclude loss-adjustment expenses. Property/casualty insurance industry catastrophes losses in the United States rose to $15.5 billion in 2014 from $12.9 billion in 2013 according to PCS, the second consecutive below-average year of losses. The number of claims reached 2.1 million in 2014, compared with 1.8 million in 2013. The number of catastrophes rose to 31 from 28 in 2013. Munich Re estimates shown below are for natural catastrophes only.

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Natural Catastrophes By Quarter, 2024 (1)

(2024 $ millions)

Quarter Estimated insured losses
1 $18,680
2 36,587
3 35,186
4 22,377
Full year $112,830

(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands. Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025.

Source: Aon.

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Natural Catastrophe Losses In The United States By Peril, 2024 (1)

($ millions)

Peril Number of events Fatalities Economic losses (2) Insured losses (3)
Tropical cyclone 5 328 $121,555 $43,717
Severe convective storm 49 99 68,579 53,967
Wildfire, drought, heatwave 9 1,033 10,519 5,548
Winter weather 6 89 6,809 4,020
Flooding 12 27 10,189 5,323
Total 81 1,576 $217,651听 $112,575听

(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands.
(2) Includes any direct physical damage or direct net loss business interruption costs.
(3) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025.

Source: Aon.

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Top 10 States By Insured Catastrophe Losses, 2019 (1)

($ millions)

Rank State Estimated insured loss Number of claims
1 Texas $7,236.4 583,050
2 Illinois 1,707.2 168,100
3 Colorado 1,366.9 127,450
4 Ohio 1,345.1 106,950
5 California 1,321.7 71,450
6 Minnesota 1,202.3 115,350
7 Pennsylvania 1,107.5 149,150
8 Nebraska 864.1 71,950
9 Oklahoma 597.8 57,100
10 Montana 593.5 36,300

(1) Includes catastrophes causing insured property losses of at least $25 million in 1997 dollars and affecting a significant number of policyholders and insurers. Excludes losses covered by the federally administered National Flood Insurance Program.

Source: The Property Claim Services庐 (PCS庐) unit of ISO庐, a Verisk Analytics庐 company.

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Top 10 Costliest Natural Catastrophes, United States (1)

($ millions)

听 听 听 Estimated insured property loss
Rank Year Peril Dollars when occurred In 2024 dollars (2)
1 2005 Hurricane Katrina $65,000 $104,471
2 2022 Hurricane Ian 54,000 57,231
3 2021 Hurricane Ida 36,000 41,540
4 2012 Hurricane Sandy 30,000 40,939
5 2017 Hurricane Harvey 30,000 38,571
6 2017 Hurricane Irma 30,050 38,432
7 2017 Hurricane Maria 29,511 37,743
8 1992 Hurricane Andrew 16,000 35,845
9 1994 Northridge Earthquake 15,300 33,035
10 2008 Hurricane Ike 18,200 26,259

(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands.
Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

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Estimated Insured Property Losses, U.S. Natural Catastrophes, 2015-2024 (1)

($ billions)

Year In dollars when occurred In 2024 dollars (2)
2015 $23.0 $30.7
2016 31.9 41.9
2017 131.0 168.1
2018 60.9 76.4
2019 39.2 48.5
2020 81.5 99.3
2021 93.3 108.7
2022 109.6 116.9
2023 80.0 82.9
2024 112.8 112.8

(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands. Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025. Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

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The chart below ranks historic hurricanes based on their insured losses, adjusted for inflation. The second chart uses a computer model to estimate the losses that major hurricanes of the past would produce today according to current exposures.

Top 10 Costliest Hurricanes In The United States (1)

($ millions)

听 听 听 Estimated insured loss
Rank Year Hurricane Dollars when occurred In 2024 dollars (2)
1 2005 Hurricane Katrina $65,000 $104,471
2 2022 Hurricane Ian 54,000 57,231
3 2021 Hurricane Ida 36,000 41,540
4 2012 Hurricane Sandy 30,000 40,939
5 2017 Hurricane Harvey 30,000 38,571
6 2017 Hurricane Irma 30,050 38,432
7 2017 Hurricane Maria 29,511 37,743
8 1992 Hurricane Andrew 16,000 35,845
9 2008 Hurricane Ike 18,200 26,259
10 2024 Hurricane Milton 20,000 20,000

(1) Includes Puerto Rico and the U.S. Virgin Islands and losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of January 2025.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.

Source: Aon.

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Estimated Insured Losses For The Top 10 Historical Hurricanes Based On Current Exposures (1)

($ billions)

Rank Date Event Category 2017 insured loss
1 Sep. 18, 1926 Great Miami Hurricane 4 $128
2 Sep. 17, 1928 Okeechobee Hurricane 4 78
3 Aug. 29, 2005 Hurricane Katrina 3 (2) 64
4 Sep. 17, 1947 1947 Fort Lauderdale Hurricane 4 62
5 Sep. 9, 1965 Hurricane Betsy 4 (2) 57
6 Aug. 24, 1992 Hurricane Andrew 5 56
7 Sep. 10, 1960 Hurricane Donna 4 50
8 Sep. 21, 1938 The Great New England Hurricane 3 50
9 Sep. 9, 1900 1900 Galveston Hurricane 4 49
10 Aug. 17, 1915 1915 Galveston Hurricane 3 25

(1) Modeled loss to property, contents and business interruption and additional living expenses for residential, mobile home, commercial and auto exposures as of year-end 2016. Losses include demand surge and account for storm surge.
(2) Strength at second landfall in Louisiana.

Source: AIR Worldwide Corporation.

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