Global catastrophe losses hit $417 billion in 2024, with climate change driving unprecedented weather events and insurance claims, according to Gallagher Re’s latest report.
Despite overall workplace fatalities declining in 2023, transportation incidents remain the leading cause of job-related deaths, according to new data from the Labor Department’s Bureau of Labor Statistics.
Commercial insurers earnings are strong, but natural disasters, geopolitical risks, and mounting legal system challenges could upset the balance, the broker finds.