The average claim severity will turn out to be one of the highest quarters in recent history for 2025’s third quarter, however the quarter will produce the lowest claim volume in five years—continuing a trend of decreased catastrophe events that has had a downstream impact on claims professionals.
A new report from Verisk shows more than 1 million total claim assignments recorded for the period, 28.5% below the third quarter of 2024.
The reduced volume was mostly driven by favorable weather and reduced catastrophe activity. The decline extended across catastrophe and non-catastrophe claims, continuing the