Global disaster insurance gap exceeds 420B
The value of losses caused by uninsured natural disasters increased by more than 7% globally last year, reaching $424 billion, with North America leading the way with the highest amount at $140 billion. The increase in disasters and climate change have widened the insurance gap, as coverage in some high-risk areas has decreased—for example, in California, earthquake coverage dropped from 30% to 12% between 1994 and 2024—reflecting a decline in resilience against catastrophes in emerging markets. Worldwide insurance losses are expected to reach $186 billion by 2030, up from $107 billion in 2025.
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