The drop stands in contrast to the global picture. Economic losses from disasters worldwide climbed to over $562 billion in 2024, which is roughly 10% above the long-term average since 2000. Early signs from 2025 suggest another costly year ahead: Aon’s data shows that global insured losses for the first quarter alone are estimated at $82 billion. That makes it the second highest Q1 total on record, largely due to events in the United States, including January wildfires in California.
