A Firm Foundation: How Insurance Supports the Economy

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, 2015-2019 (1)

($000)

Year Incurred losses
2015 $41,237,535
2016 44,388,823
2017 56,479,717
2018 56,252,556
2019 54,081,753

(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, 2015-2019 (1)

($000)

Year Incurred losses
2015 $117,591,118
2016 124,688,807
2017 137,939,620
2018 148,768,919
2019 155,123,166

(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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