Data appendix
The indicator set with its sources, the source registers, the licences of every kind of material and the formats of the edition.
Contents
- ·Edition home
- ·Executive summary
- 1Protection gaps are shared risk
- 2Key findings
- 3Systems and sectors at baseline
- 4Risks and capability
- 5Large insured loss that meets soft pricing and thin backstops
- 6Readings from the other desks
- 7The 2027 agenda
- 8Systems in depth
- AMethodology
- BData appendix
- CReferences and record
- ·Complete edition, for print
B.1The indicator set
| Indicator | Value | Unit | Year | State | Source |
|---|---|---|---|---|---|
| Global insured natural catastrophe loss, Swiss Re | 107 | USD billion | 2025 | Reported | 1 |
| Global insured natural catastrophe loss, Munich Re | 108 | USD billion | 2025 | Reported | 2 |
| Global insured natural catastrophe loss, Aon | 127 | USD billion | 2025 | Reported | 3 |
| Global insured natural catastrophe loss, Gallagher Re | 129 | USD billion | 2025 | Reported | 4 |
| Uninsured share of economic loss, Aon | 51 | % | 2025 | Reported | 3 |
| Uninsured share of economic loss, Gallagher Re | 56 | % | 2025 | Reported | 4 |
| Share of insured losses from secondary perils | 92 | % | 2025 | Reported | 1 |
| Global protection gap, all perils | 1.83 | USD trillion | 2023 | Reported | 5 |
| Natural catastrophe resilience, global | 25.7 | % | 2023 | Reported | 5 |
| Highest-risk ZIP Code nonrenewal rate relative to lowest | ≈ 80% higher | relative | 2018 to 2022 | Reported | 12 |
| California FAIR Plan exposure | 773 | USD billion | Sep 2026 | Reported | 8 |
| California FAIR Plan policies in force | 698,307 | policies | Sep 2026 | Reported | 8 |
| Florida Citizens policies | 439,079 | policies | Nov 2025 | Reported | 9 |
| US flood programme policies in force | ≈ 4.5 | million | 2026 | Reported | 10 |
| Property catastrophe reinsurance rate change, risk-adjusted | −14.7 | % | Jan 2026 | Reported | 2 |
| Global cyber insurance premiums | ≈ 15 | USD billion | 2025 | Reported | 19 |
B.2Global source register
The governed source set behind this edition. Each source keeps its authority, coverage, cadence and role; categories describe origin, not truth.
Domains bound by the register
- FIN
- CLI
- INF
- DEV
- DAT
- WAT
- FOO
- HLT
- TRD
- AIC
| Source | Category | Coverage | Period | Cadence | Role |
|---|---|---|---|---|---|
| Swiss Re sigma coverage1 | reinsurer research arm | global | 2025 | annual | losses and trends |
| Munich Re loss coverage2 | reinsurer | global | 2025 | annual | losses and renewals |
| Aon Climate and Catastrophe Insight3 | broker | global | 2025 | annual | losses and gap |
| Gallagher Re report4 | reinsurance broker | global | 2025 | semi-annual | losses and gap |
| Swiss Re resilience index5 | reinsurer research arm | global | 2023 | annual | protection gap |
| US Treasury FIO report12 | national agency | US | 2018 to 2022 | one-off | availability and price |
| California FAIR Plan statistics8 | residual market | California | 2026 | quarterly | exposure |
| CRS Insight on NFIP10 | legislative research service | US | 2026 | per change | flood programme |
| EIOPA dashboard13 | EU agency | Europe | 1980 to 2024 | annual | protection gap |
| CCRIF snapshot48 | parametric facility | Caribbean, Central America | 2007 to 2025 | per event | payouts |
B.3Regional reading, ten regional clusters
Map plates follow with the regional Baseline Editions, when boundary sources and public-safe resolutions are bound. This page gives the regional reading in table form and ranks no region.
| Region | Principal hazards | Systems most exposed | Baseline evidence |
|---|---|---|---|
| North America | wildfire and storm losses; residual markets; flood scheme | property, flood | FAIR Plan8; CRS10; Aon3 |
| South America | low take-up; flood | property, crop | regional statistics (not bound) |
| Europe | public-private schemes; EU proposals; flood | property, flood | EIOPA1314; Flood Re16 |
| Eurasia | conflict loss; limited market data | property | regional statistics (not bound) |
| Middle East and North Africa | limited market data | property | regional statistics (not bound) |
| Africa | less than a fifth of losses insured in 2025 | property, crop, parametric | Munich Re2; ARC36 |
| South Asia | flood and cyclone loss; low take-up | property, crop | Aon3; GAR 202526 |
| East Asia | earthquake and typhoon exposure | property | Swiss Re5 |
| ASEAN | flood loss; low take-up | property | Aon3; Swiss Re5 |
| Oceania-Pacific | cyclone pool in Australia; island exposure | property, parametric | ARPC18; Munich Re2 |
B.4Regional card: California residual market
- region
- residual market
- wildfire
- availability
- Systems in view
- homeowners cover, residual market, reinsurance
- Defining events
- Los Angeles wildfires of January 2025, USD 40 billion insured1
- Couplings
- CLI → FIN; FIN → FIN
- Capability evidence
- residual market operating and growing8
- Gaps
- recovery path of the scheme; assessment data
- Agenda items
- P-03 · P-04
The FAIR Plan held USD 773 billion of exposure and 698,307 policies in September 2026 [8].
EXPOSURE
Growth of the scheme
Swiss Re calls the Los Angeles wildfires the largest insured wildfire loss on sigma records [1].
LOSS
A record wildfire loss
US-wide, nonrenewal rates were about 80% higher in the highest-risk ZIP Codes [12].
AVAILABILITY
Nonrenewal in high-risk areas
B.5How countries appear in the global edition
Countries enter the insurance edition through the insurance chapters of their own national editions, on one card grammar. They are read against peer distributions and thresholds, never placed in a league table.
| Card field | What it shows | Source |
|---|---|---|
| WEFH+B state | each core system against peer distribution bands | national edition |
| Couplings | the national dependency matrix | national edition |
| Risk objects | the national risk portfolio | national edition |
| Capability rungs | the national capability ladder | national edition |
| Evidence age | oldest and newest source dates | national source register |
Editions in the 2026 Baseline programme
26national
countries and unions
10regional
clusters
16global
flagship and sector
20frontier
technology reports
How to read a country card
- Each system is shown against the distribution of its peers, with thresholds where they exist
- Couplings and risk objects come from the country’s own national edition
- Capability rungs record evidence, not a judgement of institutions
- Evidence age is printed, so older national data are visible as such
| Wave | Countries and unions | State |
|---|---|---|
| W0 | Canada | ISSUED |
| W1 | United States, United Kingdom, France, Germany, Italy, Japan, European Union, Switzerland | PLANNED |
| W2 | Mexico, Brazil, Argentina, Türkiye, Russian Federation, Saudi Arabia, United Arab Emirates, South Africa, Senegal, Kenya, African Union, India, China, Republic of Korea, Indonesia, Singapore, Australia | PLANNED |
B.6Licences
| Material | Licence |
|---|---|
| Text | CC BY 4.0 |
| Data | on the licence of each source; Nexus tables CC BY 4.0 |
| Figures | Nexus figures CC BY 4.0; third-party as credited |
| Maps | boundary source and licence printed on each plate |
| Metadata | CC0 1.0, as Zenodo publishes it |
| Third-party data, figures and text | The source’s own licence, credited where it is used; never relicensed |
| Nexus-authored text, tables and figures: CC BY 4.0 (SPDX CC-BY-4.0). Map plates print their boundary source and licence. | |
B.7Formats and provenance
| Format | Kind | State | What it is | Identifier |
|---|---|---|---|---|
| Web edition | HTML | On this site | Draft in stewardship review; every value resolves to its source. | NR-STRATEGIC-INSURANCE-GLOBAL-2026-BASELINE-v1.0.0 |
| Print edition | At release | A4 portrait · screen, print and archival PDF, signed with the web edition at release. | NR-STRATEGIC-INSURANCE-GLOBAL-2026-BASELINE-v1.0.0 | |
| Indicator data | CSV · JSON | On this site | 16 indicators with unit, year, status and source; the machine-readable copy ships with the evidence bundle at release. | NR-STRATEGIC-INSURANCE-GLOBAL-2026-BASELINE data release v1 |
| Figures | SVG · PNG | On this site | 4 on the web edition: headline figure, figure 1.3, coupling instrument, capability ladder. | FIG-STRATEGIC-INSURANCE-GLOBAL-2026-BASELINE-* |
| Slides | Not recorded | No slide deck is recorded for this edition. | ||
| Evidence brief | HTML · PDF | Not recorded | No evidence brief is recorded for this edition. | |
| Dataset with DOI | DataCite | At release | Concept and version DOI are minted at deposit; none is recorded yet. |
Provenance
- Edition pack
- The edition’s content pack (JSON), from which the print and web editions are built
- Evidence cut
- DC-STRATEGIC-INSURANCE-GLOBAL-2026-B0, closed 30 September 2026
- Reproducibility
- sourced values cited; analytical values reproducible from stated parameters
- Self-check
- 14 of 23 at evidence close; a fail on any item blocks release
- Review
- five passes scheduled before release (in Annex C)
- Publisher of record
- The Global Centre for Risk and Innovation (GCRI) for the Nexus Consortium
- Corrections
- Registry correction pathway; upheld corrections are published as notices with a new version
Notes
Numbers are the edition’s reference numbers, so a note reads the same in every chapter. The full list, with every source and its licence, is in Annex C. Annex C, references
- 1Insurance Journal and Reinsurance News (eds.), reports of Swiss Re Institute, sigma 1/2026, Natural catastrophes in 2025: the persistent rise of wildfire and storm risk (insured losses USD 107 billion; economic losses USD 220 billion; 92% from secondary perils; Los Angeles wildfires USD 40 billion; trend 5% to 7% a year; 2026 normal level USD 148 billion and peak scenario about USD 320 billion), articles of March 2026. The sigma report itself was not opened; the Swiss Re page returned an access error. Observation year 2025. Accessed 2026-11-03.back
- 2Insurance Journal, Insurance Business and Reinsurance News (eds.), reports of Munich Re, natural disaster losses in 2025, 13 January 2026 (overall losses about USD 224 billion; insured about USD 108 billion; Asia-Pacific about USD 73 billion overall and USD 9 billion insured; Africa about USD 3 billion; January 2026 reinsurance rates down 14.7%). One article printed USD 244 billion for overall losses, a typographical conflict with USD 224 billion elsewhere. The Munich Re release was not opened. Observation year 2025. Accessed 2026-11-03.back
- 3Aon (ed.), 2026 Climate and Catastrophe Insight (page read to character 100,000 of 220,843: economic losses USD 260 billion; insured losses USD 127 billion; protection gap 51%, a record low). Aon, London. Observation year 2025. Accessed 2026-11-03.back
- 4Reinsurance News (ed.), report of Gallagher Re, Natural Catastrophe and Climate Report, full year 2025 (insured losses USD 129 billion; economic losses USD 296 billion; protection gap 56% or USD 167 billion; United States USD 100 billion or 78%). The Gallagher Re report was not opened. Observation year 2025. Accessed 2026-11-03.back
- 5Artemis (ed.), report of the Swiss Re Institute sigma resilience index published in July 2024 (global protection gap USD 1.83 trillion in 2023; natural catastrophe gap USD 385 billion premium equivalent; natural catastrophe resilience 25.7%; United States 39%; national values from about 5% to above 80%). The sigma report was not opened. Observation year 2023. Accessed 2026-11-03.back
- 12US Department of the Treasury, Federal Insurance Office (ed.), Homeowners insurance report, press release of 16 January 2025 (more than 330 insurers; 246 million policies; 2018 to 2022; ZIP Code level; nonrenewal rates about 80% higher in the highest-risk ZIP Codes). The report itself was not opened. Observation year 2022. Accessed 2026-11-03.back
- 8California FAIR Plan Association (ed.), Key Statistics and Data (September 2026: 698,307 policies in force; exposure USD 773 billion; written premium USD 2.04 billion; policies up 157% and exposure up 252% since September 2022). California FAIR Plan Association, Los Angeles. Observation year 2026. Accessed 2026-11-03.back
- 9News Service of Florida (ed.), report on Florida Citizens Property Insurance Corporation policy counts, 25 November 2025 (439,079 policies; peak of about 1.4 million in September 2023). Read through a television station republication. Observation year 2025. Accessed 2026-11-03.back
- 10Congressional Research Service (ed.), What Happens If the National Flood Insurance Program (NFIP) Lapses?, Insight IN10835, version of 11 September 2026 (authorised to 11 December 2026; 36 short-term reauthorisations since FY2017; lapses 1 October to 12 November 2025 and 1 to 3 February 2026; borrowing limit USD 30.425 billion; nearly 4.5 million policies; almost USD 1.3 trillion coverage). Library of Congress, Washington. Observation year 2026. Accessed 2026-11-03.back
- 19Munich Re (ed.), Global Cyber Risk and Insurance Survey 2026 (premium volume nearly USD 15 billion in 2025; about USD 28 billion forecast for 2030; over 9,500 respondents in 20 countries). Munich Re, Munich. Observation year 2025. Accessed 2026-11-03.back
- 13EIOPA (ed.), Dashboard on insurance protection gap for natural catastrophes (30 European countries; insurance coverage and economic loss data from 1980 to 2024; page updated December 2025). European Insurance and Occupational Pensions Authority, Frankfurt. Observation year 2024. Accessed 2026-11-03.back
- 48CCRIF SPC (ed.), CCRIF in a Snapshot, brief revised April 2025 (78 payouts totalling about USD 390 million between June 2007 and April 2025; 30 members as of June 2024). The PDF was opened and its text read. CCRIF SPC, Grand Cayman. Observation year 2025. Accessed 2026-11-03.back
- 14EIOPA and ECB (eds.), Towards a European system for natural catastrophe risk management (publication page; 18 December 2024; proposes an EU public-private reinsurance scheme and an EU fund for public disaster financing). EIOPA, Frankfurt. Observation year 2024. Accessed 2026-11-03.back
- 16Flood Re (ed.), About us (reinsurance scheme for affordable flood cover in home insurance; planned to run until 2039). Flood Re, London. Observation year 2026. Accessed 2026-11-03.back
- 36UNVERIFIED, not opened: African Risk Capacity (ed.), African Union specialised agency for parametric drought, flood and cyclone cover, cited from memory; no figure used. African Risk Capacity, Johannesburg. Observation year 2012. Accessed 2026-11-03.back
- 26UNVERIFIED, not opened: UNDRR (ed.), Global Assessment Report on Disaster Risk Reduction 2025: Resilience Pays, cited from memory; no figure used. United Nations Office for Disaster Risk Reduction, Geneva. Observation year 2025. Accessed 2026-11-03.back
- 18Australian Reinsurance Pool Corporation (ed.), Cyclone Reinsurance Pool (commenced 1 July 2022; annually reinstated government guarantee of 10 billion, stated as dollars and read here as Australian dollars; mitigation discounts; cost-neutral to government over the longer term). ARPC, Canberra. Observation year 2022. Accessed 2026-11-03.back