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This mid-year addendum to the 2025 Commercial Property and Casualty Market Outlook updates the insurance market trends, summarizes current market conditions, and forecasts important developments that are starting to emerge.

Nonprofits are facing increasing budget and personnel uncertainty due to both a decline in donations and threats of cuts to government funding. As a result, volunteers will become even more important in helping nonprofits fulfill their missions. However, even the most well-intentioned and qualified volunteers can expose organizations and philanthropic families to legal, financial, and reputational risks—especially if the volunteers are placed in unsuitable roles or lack proper screening, training, and supervision.

Going into the year 2025, the insurance industry faces a landscape marked by complexity and uncertainty. In this summary, learn more about the top-of-mind insurance issues and what to expect in the areas of digital disruption, GenAI, reinsurance trends, emerging risks, economic trends, regulatory updates, evolving tax roles and responsibilities, and more.

The wealthy today are more optimistic about their financial opportunities—but they are also more worried about the risks they face, recognizing that their wealth could be lost in an instant in the face of threats like catastrophic weather events, cybercrime, theft, and liability settlements. To further gauge their concerns (and changing aspirations), this Wealth Report surveyed a wide-ranging group of successful individuals.

Across the United States, coverage for homes, autos and valuable collections have increased at a double-digit pace. In states that have experienced multiple disasters, particularly Florida and California, affluent homeowners have seen premium increases of at least 20% and higher. Others must scramble to find any coverage as carriers continue to pull back—or completely tap out—from the most disaster-prone regions.

With rising property and casualty premiums and reduced insurance availability, many U.S. homeowners have either chosen to self-insure their homes or have been given no other viable choice. This trend includes an increasing number of affluent families with high-luxury homes in areas prone to wildfires, extreme weather, and other catastrophic events.

Building and running a successful business can be hugely rewarding, both personally and financially, but it comes with unique challenges and risks that require the business owner to be prepared for the unexpected. A solid business plan is perhaps the best line of defense against unforeseen events that could derail a business. A close second is insurance. When used as a strategy for your business, both liability insurance and life insurance can help you protect what you’ve built, protect your family, and make succession planning easier to ensure a bright future for both.

For many affluent families, risk management has become less a matter of how much insurance premiums will cost and more an issue of how much financial risk they are willing and able to accept. In an ever-shifting risk environment where families are assuming higher levels of exposure, families will need to be increasingly cognizant of potential risks in their lives and take proactive steps to safeguard their loved ones, assets, personal data, and financial security.

The insurance market outlook for 2025 shows stabilization in several areas, with continued challenges and evolving risks across property, casualty, executive and professional risk, aviation, environmental, and international lines. In a dynamic yet cautious market, insurers are adapting to changing conditions, regulatory pressures, and emerging threats. Moving forward, organizations are encouraged to utilize risk control strategies to present their accounts favorably to insurance carriers, and to leverage all available tools to align asset values with industry standards.

In this 10-minute interview, attorney Lindsey Birch of Foley & Lardner joins Brian Lucareli to discuss art ownership. During the interview, Lindsey explained what constitutes ownership of art, what to look for when acquiring fine art or artifacts, insurance protection, and the steps that can be taken to mitigate any future risks regarding title.