According to a recent report from Willis, a division of WTW, natural catastrophe events generated over $100 billion in insured losses in 2025. This marks the sixth consecutive year that losses have exceeded this amount, highlighting the ongoing severity and persistence of natural catastrophe risk, despite the fact that no single hurricane made landfall in the United States during that time. Insurers should act now to protect their portfolios against unsustainable accumulations of risk and prepare for a reversal of fortune,” Rye said. Before 2025, there had been eight wildfires in California with insured losses greater than $2.8 billion, with 2018’s Camp Fire being the most destructive at $12.5 billion. Once all claims are paid, total insured losses for the Los Angeles wildfires may approach $40 billion, Willis noted.