The U.S. insurance market, still adjusting after the pandemic’s supply chain disruptions, has faced rising loss severity and frequency across complex industries. Extreme weather and natural catastrophe events in 2020–2021 produced record losses exceeding $250 billion, with $120 billion insured. Tornadoes, floods, wildfires and hurricanes contributed to one of the highest loss periods on record. As NatCat risks grow, commercial property owners are increasingly turning to alternative risk strategies to better structure exposures in catastrophe‑prone zones and manage the impact of severe weather events.

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