There were $28 billion extreme weather events with estimated commercial real estate insurance costs totaling $92.9 billion in 2023, according to Deloitte’s 2024 Financial Services Industry Predictions.
In total, these events accounted for a 56 percent increase from 2022, and up 180 percent from levels 10 years ago. Assuming a similar annual trajectory, there could be as many as 42 separate billion-dollar extreme weather events annually by 2030.
Recent commercial property insurance pricing adjustments have
