Sharp increases in weather claims—from water to fire to ice—are undeniable. In 2024, 27 confirmed weather disaster events in the U.S. that caused losses exceeding $1 billion each.
The types of events included drought, flooding, severe storms, hurricanes, wildfires and winter storms. An Arctic blast from December 2022 to January 2023 caused a 428% increase in freeze claims and 150% increase in flood claims over same period in the prior year, a Verisk report shows. Through mid-August 2025, more than 44,000 wildfires had been reported and had burned over 3.7 million acres. The damage from