Construction industry

The insurance industry’s contribution to the construction industry

The construction industry benefits from claims filed under homeowners and commercial property insurance policies.

Incurred Losses For Homeowners Insurance, 2018-2022 (1)

($000)

Year Incurred losses
2018 $56,252,556
2019 54,056,503
2020 63,871,983
2021 66,786,451
2022 74,164,594

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence; Insurance Information Institute.

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Incurred Losses For Commercial Insurance, 2018-2022 (1)

($000)

Year Incurred losses
2018 $148,768,919
2019 155,085,961
2020 172,088,107
2021 184,973,037
2022 202,732,883

(1) Losses occurring within a fixed period, whether or not adjusted or paid during the same period, after reinsurance transactions.

Source: NAIC data, sourced from S&P Global Market Intelligence, Insurance Information Institute.

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