Lower claims volume in 2025 masks shifting risks from emerging trends, wildfires, and targeted auto theft, according to Verisk, a data analytics and tech provider to the global insurance market.

Though insurance claims declined in 2025, underlying risks became more complex and concentrated, leading to more severe and challenging losses for many insurers, according to its annual ClaimsSearch Trends Report.

Findings indicate that claim volumes were lower in 2025 compared to 2024, particularly for homeowners claims. Homeowners claims volume fell 19 percent year-over-year to 5.3 million in 2025, the lowest level in five years, after peaking in 2024. Despite the quiet hurricane season, the low volume could change as losses could continue to develop years after the Los Angeles wildfires, Verisk notes.

Commercial property claims volume declined over the past two year to 710,000 in 2025, down from 910,000 in 2023.

Data showed that gig‑related commercial auto claims jumped 96 percent since 2021, now accounting for 10 percent of all commercial auto claims, driven largely by food delivery and ride‑hailing activity.

Auto theft fell overall but became more targeted, the report found. Vehicle theft claims fell 25 percent in 2025, with losses concentrated among a small group of vehicle brands and high‑value components.

Personal auto claims volume declined nearly 3 percent in 2025, following a roughly 5 percent decrease in 2024.

Commercial auto claims volume fell 5 percent in 2025 but remained 14 percent higher than in 2021, reflecting longer-term expansion of commercial driving risk, the report noted.

Workers compensation and general liability claims volumes remained relatively stable, suggesting that risk in core commercial lines has not retreated.

“Claims data is often the earliest signal of how risk is changing,” said Shane Riedman, president, anti-fraud analytics, at Verisk. “Even as overall volumes declined in 2025, the underlying loss patterns tell a very different story. This report analyzes claims activity at scale, and can help insurers better gauge risk, anticipate emerging risks, identify subrogation opportunities, and make smarter decisions for the year ahead.”

The January 2025 Los Angeles wildfires resulted in devastating damage, as compared to claims related to previous California wildfire events— such as the Camp Fire and Tubbs Fire; with wildfire smoke damage emerging as a major loss driver. LA wildfire losses were driven less by the total acreage burned and more by wildfires impacting densely populated communities with higher home values, the data showed.

Smoke damage emerged as a major loss driver, accounting for roughly 30 percent of claims filed within the first 30 days, highlighting early-stage loss development.

Historical patterns suggest wildfire losses may continue to develop for years. Roughly 35 percent of smoke claims from the 2018 Camp Fire were filed in 2020 or later.

Despite a sharp decline in personal auto theft claims volume in 2024 and 2025, theft risk has become more concentrated. In 2025, vehicle theft claims volume fell by 25 percent, following a 24 percent decline from 2024.

Select Infiniti models ranked among the highest for theft-to-collision ratios in 2025, along with select Kia, Hyundai, and Acura models, reflecting increasingly targeted theft activity.

Catalytic converter theft closely tracked precious metal prices, with theft volumes rising after metal prices peaked in 2021. Rising platinum, palladium, and rhodium prices in 2025 could signal renewed pressure on theft ahead, the report stated.

Analysis of workers compensation claims indicates an overlooked opportunity for subrogation when compared to general liability claims as a whole.

Emerging loss trends point to increasing claims involving autonomous vehicles, e-bikes, and chemical hazards.

The report found that from 2021 to 2025:

• Gig‑related commercial auto claims increased 96 percent, rising to 10 percent of all commercial auto claims. Food delivery-related commercial auto claims saw a 300 percent increase, while ride-hailing claims volume increased 66 percent..
• Claims involving silica or crystalline dust increased exponentially, rising from just over 100 claims to just under 2,000 claims.
• PFAS-related claims also rose over the period, increasing from minimal reported volumes to approximately 700 claims.
• E-bike-related claims quadrupled from around 1,000 claims to just over 4,000 claims, driven by growth in rider injuries, fires, and thefts.