Vehicle thefts across the United States declined significantly in 2025, reaching the lowest levels recorded in several decades, according to new data from the National Insurance Crime Bureau. The report highlights a 23% decrease in thefts compared to 2024, continuing a downward trend following a 17% drop the previous year.

A total of 659,880 vehicles were reported stolen nationwide in 2025. This marks a sharp reversal from the surge in thefts seen during the pandemic years. Despite this progress, vehicle theft remains a persistent issue. On average, one vehicle is still stolen every 48 seconds nationwide.

Coordinated Efforts Drive Nationwide Decline

The reduction in thefts reflects coordinated prevention efforts among law enforcement, auto manufacturers, insurers, and the National Insurance Crime Bureau. These combined initiatives have contributed to measurable improvements in theft prevention and deterrence.

Even with the national decline, theft activity remains elevated in certain areas. In particular, large metropolitan regions continue to account for a disproportionate share of incidents. More than one-third of all vehicle thefts occurred within the top 10 Census-defined metropolitan areas.

State-Level Trends Show Significant Reductions

Several states reported notable year-over-year declines in vehicle thefts. Washington recorded the largest percentage decrease at 39%, followed by Colorado at 35% and Puerto Rico at 34%.

Other states with substantial reductions include South Dakota, Tennessee, New Mexico, North Dakota, Florida, Georgia, and Arizona, all reporting declines ranging from 27% to 32%.

At the same time, theft volume remains concentrated in a handful of states. California reported the highest number of stolen vehicles in 2025, with 136,988 thefts, accounting for more than 20% of the national total. Texas, Illinois, Florida, and New York followed as the next highest states by total theft volume.

Metropolitan Areas Continue to See High Theft Volumes

Vehicle thefts remain concentrated in major metropolitan areas. The Los Angeles-Long Beach-Anaheim region reported the highest number of thefts at 53,911. Other leading metro areas include New York-Newark-Jersey City, Chicago-Naperville-Elgin, and Houston-Pasadena-The Woodlands.

California metropolitan areas also reported the highest theft rates per capita. The San Francisco-Oakland-Fremont area recorded 477.51 thefts per 100,000 people, followed closely by Bakersfield-Delano at 477.27. Memphis ranked third with a rate of 427.75 thefts per 100,000 people.

Most Stolen Vehicles Reflect Ongoing Patterns

Certain vehicle models continued to be targeted more frequently than others. The Hyundai Elantra ranked as the most stolen vehicle in 2025, with 21,732 reported thefts. The Honda Accord and Hyundai Sonata followed closely behind.

Other frequently stolen vehicles included the Chevrolet Silverado 1500, Honda Civic, Kia Optima, Ford F-150, Toyota Camry, Honda CR-V, and Nissan Altima.

Thefts involving Hyundai and Kia vehicles declined for the third consecutive year. These vehicles accounted for 14% of total thefts in 2025, down from 16% in 2024 and 21% in 2023. This decrease aligns with the implementation of software updates and manufacturers' theft-prevention measures.

Ongoing Risk and Prevention Measures

Despite the overall decline, vehicle theft continues to cause financial losses and operational disruptions. The National Insurance Crime Bureau emphasizes that theft remains a crime of opportunity that can affect any community.

Recommended prevention measures include parking in well-lit areas, ensuring windows are fully closed, and locking vehicle doors. Additionally, drivers should avoid leaving vehicles running unattended and always take keys when exiting.

For added protection, anti-theft technologies such as steering wheel locks, audible alarms, kill switches, and GPS tracking devices can provide an additional layer of security and improve recovery outcomes.

A bill that would expand regulatory oversight of homeowners and automobile insurance rates in Illinois has passed the state House and now awaits consideration in the Senate.

The legislation combines two previously separate proposals into a single measure. It would grant the Illinois Department of Insurance authority to review and approve rates for both types of coverage. Lawmakers approved the combined bill March 19 following continued negotiations among legislative leaders and the governor’s office.

Background on Rate Oversight Proposal

Gov. JB Pritzker first called for increased oversight of homeowners insurance rates in 2025 after State Farm announced an average rate increase of 27.2% in Illinois. The company cited losses from weather-related disasters as the reason for the increase.

Pritzker questioned that explanation and raised concerns that losses from other states may have influenced Illinois rate decisions. He also pointed to the state’s regulatory framework, noting that Illinois does not currently regulate insurance premiums or prohibit rates that are excessive, inadequate, or unfairly discriminatory.

At the same time, Secretary of State Alexi Giannoulias advocated for changes in the automobile insurance market. He raised concerns about insurers using factors such as credit ratings when setting premiums, arguing that such factors may not reflect driving behavior.

Earlier versions of both proposals did not advance through the General Assembly in 2025. A homeowners insurance bill passed the Senate during the fall veto session but did not pass the House before adjournment.

Key Provisions of the Bill

Senate Bill 1486, as amended in the House, introduces several regulatory changes affecting both homeowners and automobile insurance.

The bill would prohibit insurers from charging rates that are excessive, inadequate, or unfairly discriminatory. It would also require insurers to provide at least 60 days’ notice before implementing premium increases of 10% or more, beginning July 1, 2027.

In addition, the legislation establishes a framework for the Department of Insurance to review and approve rate filings after that date. Insurers would still be able to implement new rates immediately upon filing. However, the department would have the authority to review those rates.

If the department determines that a rate is excessive, inadequate, or unfairly discriminatory, it would notify the insurer. The insurer could then request an administrative hearing. Following that process, the department would have the authority to reject the rate filing and require insurers to issue rebates for any excessive premiums collected.

The bill also addresses rate-setting practices by requiring insurers to use credible, state-specific data when available and statistically reliable. This provision is intended to limit cost-shifting practices across different markets.

Legislative Perspectives

Rep. Thaddeus Jones, D-Calumet City, who sponsored the bill in the House, said the legislation responds to concerns about rising insurance costs.

“This legislation is important to home and car owners of Illinois who are struggling with increasing insurance rates,” Jones said during floor debate.

Rep. Jeff Keicher, R-Sycamore, who works as an insurance agent, said the revised bill reflects improvements from earlier versions. However, he said it does not address the underlying factors contributing to higher premiums.

Keicher cited the increasing frequency of catastrophic weather events and the role of contractors and litigation in driving claims costs. He noted that some actors exploit storm damage situations, leading to additional claims and expenses for insurers.

Several lawmakers with ties to the insurance industry abstained from voting on the measure. The bill ultimately passed the House by a vote of 66-40.

Industry Response

Insurance industry groups opposed the legislation following its passage in the House. The Illinois Insurance Association, the American Property Casualty Insurance Association, and the National Association of Mutual Insurance Companies issued a joint statement describing the measure as a significant regulatory change.

The organizations stated that the bill represents a broad overhaul of Illinois insurance regulation. They also said they believe the changes could increase policyholders' costs.

The statement referenced broader economic pressures, including rising property taxes, fuel, grocery, and utility costs. It said the legislation could contribute to affordability challenges for households in the state.

Next Steps

The bill now moves to the Illinois Senate for consideration. Lawmakers have not indicated a timeline for when the Senate may take up the measure.

Farmers Insurance® has appointed John Pham as Chief Strategy & Risk Officer, reporting to Farmers Group, Inc. CEO Raul Vargas. The company announced that Pham will take on a key role focused on advancing strategy execution and operational performance across the organization.

In this position, Pham will work across the enterprise to translate strategic priorities into measurable business outcomes. His responsibilities will center on execution discipline, operational excellence, and technology-enabled improvement.

Raul Vargas, CEO of Farmers Group, Inc., highlighted Pham’s background and experience. “John brings deep experience leading complex, cross-functional transformation in Property & Casualty insurance,” Vargas said. He added that Pham’s expertise in operational execution, customer experience, and technology modernization will support the company’s efforts to strengthen performance and deliver value for customers, agents, and employees.

Pham joins Farmers Insurance from GEICO, where he most recently served as Head of Strategic Business Initiatives. In that role, he oversaw Operational Shared Services and worked closely with product, technology, and business leaders. His work included improving contact center automation and customer experience, strengthening enterprise learning and onboarding at scale, establishing enterprise-wide quality frameworks, and enhancing the use of customer insights to drive process improvements.

Before that, Pham held several leadership roles at GEICO, including Chief Information Officer. During his tenure, he led large business units with P&L responsibility. He also implemented initiatives designed to drive profitable growth and improve customer service.

Farmers Insurance® and Farmers® operate as tradenames for a group of insurers that provide coverage for automobiles, homes, and small businesses, along with a range of other insurance and financial services products. Farmers Insurance Exchange is the largest of the three primary insurers within the group and is listed among the largest U.S. companies on the 2025 Fortune 500 list.

ZestyAI has introduced a new AI-powered model designed to assess non-weather-related fire risk at the individual property level. The model, called Z-SPARK, focuses on identifying factors that influence ignition and fire spread, providing insurers with more detailed insight into potential fire losses.

Non-weather fire incidents remain a significant source of property damage. In 2023, these events accounted for approximately $25 billion in losses. Common causes include grills, appliances, heaters, and electrical faults. Despite the scale of these losses, many insurers continue to rely on neighborhood or territory-level averages and limited historical data to evaluate fire risk. However, risk can vary widely between properties, even within the same area. As a result, insurers may face challenges in accurately pricing policies, leading to adverse selection and unexpected losses.

Z-SPARK addresses this gap by applying modern fire science and property-level data. The model evaluates building materials, maintenance conditions, nearby structures, local fire response capacity, and climate factors. It analyzes how these elements contribute to both ignition risk and fire spread.

In addition, the model uses advanced machine learning trained and validated on millions of real fire incidents and verified insurance claims. It predicts both the likelihood of a fire starting and the potential severity of resulting losses. According to ZestyAI, Z-SPARK delivers 30× greater risk differentiation compared to traditional territory-based models.

With property-level insights, insurers can adjust several aspects of their operations. They can align premiums more closely with actual risk, rather than relying on broad geographic averages. They can also support straight-through processing for lower-risk properties and focus underwriting resources on higher-risk cases that require closer review. Furthermore, insurers may gain the ability to write business in more challenging markets with a clearer understanding of exposure. These insights also support efforts to manage concentration risk across portfolios before losses accumulate.

Z-SPARK builds on ZestyAI’s existing modeling capabilities. The company’s Z-FIRE model is already used to assess wildfire exposure. The new model expands this approach to everyday building fires, which represent a major source of insurance losses.

The broader ZestyAI platform includes models for additional perils such as hail, wind, severe convective storms, and water damage. It also incorporates agentic AI tools designed to support insurance operations. Through its ZORRO Discover platform, insurers can research markets, prepare filings, and act on risk intelligence more efficiently.

Together, these tools provide insurers with a more detailed view of property-level risk and support decision-making across underwriting, pricing, and portfolio management.

Severe flooding across Hawaii in March 2026 has led to emergency evacuations, infrastructure damage, and projected losses reaching up to $1 billion. Authorities describe the event as the most significant flooding the state has experienced in the past 2 decades.

Back-to-back Kona storms brought intense rainfall, strong winds, and widespread disruption across the islands. A statewide flood watch remained in effect through the afternoon of March 22 as conditions continued to develop.

Emergency Evacuations and Dam Risk

On March 20, officials ordered evacuations in parts of northern Oahu due to concerns about the Wahiawa Dam. The Hawaii Emergency Management Agency reported that the 120-year-old structure had not failed but was at imminent risk of failure.

Evacuation orders affected Haleiwa and Waialua. Alerts warned that all roads out of the area were at risk of imminent failure and urged residents to leave immediately.

The Wahiawa Dam, built in 1906 and used primarily for irrigation, is privately owned and classified as having a high hazard potential. It is also considered to be in poor condition. Oahu has 13 dams, seven of which are classified as having high or significant hazard potential.

Assembly areas were established for evacuees and for those unable to return home.

Rainfall and Flood Conditions

The National Weather Service reported that two storm systems continued to drive heavy rain, thunderstorms, and flash flooding risks across the islands. Rainfall rates reached 2 to 4 inches per hour in some areas.

Forecasts called for up to 10 inches of additional rainfall on Oahu between March 20 and the morning of March 23.

Floodwaters rose rapidly in several locations. The Kaukonahua Stream near Wailua increased by more than 10.5 feet on March 20. In another incident, one foot of water flowed over a road east of Waialua, inundating vehicles and homes. Emergency crews transported civilians using a bulldozer.

Impact on People and Property

Gov. Josh Green confirmed that no deaths or missing persons had been reported as of March 20. However, approximately 200 people required rescue, and about 10 individuals were treated for hypothermia.

Floodwaters caused extensive damage across multiple sectors. A home in Mokuleia was swept onto the beach during a flash flood, with reports indicating the structure split and partially collapsed. In Makaha Valley, a road collapse sent vehicles over the edge, forcing a full closure.

Damage estimates include impacts to homes, roads, schools, airports, and a hospital on Maui. Total losses could reach $1 billion, according to state officials.

Kona Storm Activity

The flooding resulted from a series of kona storms, which are winter cyclones that typically affect Hawaii’s leeward sides. These storms form from low-pressure systems and can bring heavy rainfall to areas usually sheltered from the trade winds.

Meteorologists note that Hawaii typically experiences one to two kona storms during the November to March season. However, two storms forming within the same month and within a week are considered rare.

The first storm system affected the islands from March 10 through March 16, producing local rainfall totals exceeding 4 feet.

Comparison to 2004 Flooding

Officials compared the March 2026 flooding to the October 30, 2004, Manoa Flood, the most significant flooding event in recent decades.

During the 2004 event, rainfall peaked at 1.29 inches in 15 minutes and 8.71 inches over six hours. Manoa Stream overflowed, sending floodwaters through residential areas and the University of Hawaii at Manoa campus. The flooding destroyed documents and damaged laboratory facilities.

That event caused approximately $85 million in damage and impacted around 120 homes. No deaths or injuries were reported.

Ongoing Monitoring

Authorities continue to monitor rainfall, water levels, and infrastructure conditions as storm activity persists. Flood watches and emergency alerts remain in place as officials assess risks to communities and critical systems across the islands.

Quility, an award-winning insurtech company transforming insurance distribution through technology and innovation, today announced it was selected as the winner of the “InsurTech Company of the Year“ award in the 10th annual FinTech Breakthrough Awards program conducted by FinTech Breakthrough, an independent market intelligence organization that recognizes the top companies, technologies, and products in the global FinTech market today.  

Insured losses from natural catastrophes reached $107 billion in 2025, according to Swiss Re Institute’s sigma 01/2026 report. While this figure falls below the $140 billion implied by long-term trends, the report states that underlying risk continues to grow as exposure increases.

Secondary perils dominated global losses during the year. Wildfires, severe convective storms, and floods accounted for 92% of total insured natural catastrophe losses. These events also contributed to a high frequency of claims in densely populated and high-value areas.

Wildfires and Storms Lead Loss Activity

Wildfires generated some of the most significant losses in 2025. The Los Angeles wildfires alone resulted in approximately $40 billion in insured losses, marking the largest wildfire loss event on sigma records.

Severe convective storms also remained a major contributor, producing $51 billion in insured losses globally. This made 2025 the third-costliest year on record for these events, following 2023 and 2024 when adjusted to 2025 prices.

Flood-related insured losses totaled $3.4 billion, which is well below the previous five-year average of $15.4 billion. The year also stood out due to the absence of a major U.S. hurricane landfall.

Exposure Growth Continues to Drive Losses

Swiss Re data indicates that exposure growth has been a primary driver of long-term insured loss increases. Between 1970 and 2025, more than 80% of the rise in global weather-related insured losses is attributed to increased exposure.

Several factors contribute to this trend. Population growth, rising asset values, and higher reconstruction costs continue to increase the value of assets in risk-prone areas. As a result, losses remain elevated even in years with fewer large-scale events.

Regional trends show varying drivers of loss growth. In North America, wildfire and severe convective storm losses are increasing, with wildfire losses growing at an annual rate of 14%. In Europe, more than half of insured loss growth is linked to severe convective storms, which are increasing at an estimated annual rate of 10%. In Asia, floods are the dominant secondary peril, while in Oceania and Australia, losses are more evenly split between storms and floods.

Although tropical cyclones remain the largest contributor to overall long-term average losses, severe convective storms account for the largest share of historical insured loss growth at 38%. Wildfires contribute about 20%, and floods account for roughly 10%.

Additional Risk Drivers Emerging

The report notes that exposure alone does not fully explain the pace of loss growth in some regions. Hazard intensification and evolving vulnerability are becoming increasingly significant.

In North America, longer fire seasons and changes in temperature and precipitation patterns are increasing wildfire risk. In Europe, less than half of the increase in severe convective storm losses can be attributed to exposure growth, suggesting additional factors such as changing storm characteristics and shifting vulnerability.

Economic Losses and Protection Gaps

Global economic losses from natural catastrophes totaled $220 billion in 2025. Of that amount, 49% was insured, representing the highest share recorded in sigma reports.

Despite this, protection gaps remain substantial, particularly in emerging markets where 80% to 90% of catastrophe losses are typically uninsured. The data highlights the continued role of insurance in covering losses, while also pointing to areas where coverage remains limited.

Outlook Based on Modeled Scenarios

Swiss Re modeling indicates that insured losses could increase in the near term. If losses return to long-term averages, they could reach $148 billion in 2026. In a peak-loss scenario, insured losses could rise to approximately $320 billion.

The report attributes this potential increase to continued exposure growth and the structural nature of rising insured losses.

A consortium of universities has filed a federal lawsuit seeking to block plans to dismantle the National Center for Atmospheric Research (NCAR) in Boulder, Colorado. The complaint, filed Monday, March 16, 2026, in U.S. District Court in Denver, challenges actions taken by federal agencies and officials and requests restoration of contracts and funding tied to the center.

The University Corporation for Atmospheric Research (UCAR), which manages NCAR on behalf of more than 100 member universities, is leading the legal effort. The organization argues that the proposed breakup violates federal law and describes the actions as “arbitrary and capricious.”

Details of the Federal Complaint

According to the filing, UCAR alleges that federal agencies have engaged in retaliatory actions against the State of Colorado and its institutions. The complaint states that these actions aim to coerce the state in response to its exercise of constitutional powers.

The lawsuit names several federal entities and officials as defendants, including the National Science Foundation, NOAA, the Department of Commerce, and the Office of Management and Budget, along with their respective leaders in official capacities.

UCAR also challenges specific measures, including the termination of cooperative agreements, the transfer of the NCAR-Wyoming Supercomputing Center, and the imposition of gag orders. The complaint states that these actions lack legitimate scientific justification and coincided with disputes between the administration and Colorado Gov. Jared Polis.

Background on the Proposed Changes

In December, Russell Vought, director of the Office of Management and Budget, announced plans to break up NCAR. He stated that the National Science Foundation would conduct a comprehensive review and relocate certain activities, including weather research, to other entities or locations.

Earlier, an executive order issued by President Donald Trump addressed climate-related policies, stating that some state-level initiatives could impact national energy goals, economic conditions, and security.

In January 2026, the National Science Foundation issued a “Dear Colleague Letter” inviting proposals to restructure NCAR’s observational platforms, computing capabilities, and training programs. The letter also sought expressions of interest in potential ownership of the Mesa Laboratory for public or private use.

Role and Scope of NCAR Operations

The lawsuit describes NCAR as a leading center for atmospheric and climate research. Established in 1960 and operated by UCAR for the National Science Foundation, the facility provides research tools and data to scientists across the United States.

The center supports researchers at institutions that may not have access to advanced laboratory infrastructure. Its work includes storm prediction, climate pattern analysis, and forecasting tools used in various sectors, including aviation and agriculture.

A key component of NCAR’s operations is its supercomputing capability. The Wyoming Supercomputing Center in Cheyenne runs simulations that model hurricanes, wildfires, droughts, and long-term climate trends. According to the complaint, the system supports approximately 1,500 researchers from more than 500 universities.

The data generated by these systems is also used by federal agencies, including the Department of Defense, the Federal Aviation Administration, and NASA. The lawsuit states that NCAR employs nearly 1,400 individuals and contributes hundreds of millions of dollars annually to Colorado’s economy.

Current Status

UCAR is seeking judicial intervention to halt the dismantling process and maintain current funding and operational structures while the case proceeds. The outcome of the lawsuit will determine whether the proposed restructuring of NCAR moves forward.

Amwins, a global distributor of specialty insurance products and services, has released its Public Entity State of the Market Report. The report provides a detailed look at the risk environment facing municipalities, school districts, and other government organizations across the U.S. It presents current market conditions, key pressures, and areas of continued focus for insurers and public entities.

Overall, the report describes a market that remains largely stable. However, insurers continue to manage several ongoing pressures, including catastrophe exposure, legal system abuse, and rising liability costs.

Darron Johnston, EVP at Amwins Brokerage, said competition remains strong in the public entity property market. He noted that capacity is readily available across most segments. At the same time, he emphasized that underwriting discipline remains critical, especially for accounts with significant catastrophe exposure or challenging loss histories.

Current property conditions favor insureds. Rates are softening due to healthy combined ratios, new market entrants, and strong carrier appetite for growth. However, insurers are increasing scrutiny during underwriting. They are closely reviewing property valuations, construction details, roof age, and mitigation efforts when evaluating risks.

On the casualty side, the market continues to face complex legal and regulatory pressures. Capacity remains stable, but carriers are maintaining firm underwriting standards. This is particularly true for high-severity exposures such as law enforcement operations, transportation-related liability, and sexual abuse and molestation claims.

Brian Frost, EVP at Amwins Brokerage, said liability exposures remain one of the most significant challenges for public entities. He explained that nuclear verdicts, third-party litigation funding, and evolving legal theories are contributing to higher claim severity and more complex placements.

The report outlines several key insights shaping the public entity insurance market:

Property Market Softening

Increased capacity and competition are driving improved pricing and broader terms across many segments. This trend is particularly evident for middle-market entities such as regional school districts and municipalities.

FEMA Reform Implications

Proposed changes to the Federal Emergency Management Agency’s Public Assistance program could shift more disaster recovery costs to state and local governments. As a result, risk transfer strategies may become increasingly important.

Growing Interest in Parametric Solutions

Public entities are exploring parametric insurance to address coverage gaps created by deductibles, sub-limits, and exclusions. This interest is especially strong in catastrophe-prone regions.

Litigation and Liability Pressures

Nuclear verdicts, reviver statutes, and claims moving to federal courts are driving higher liability costs for municipalities and public institutions.

Technology and Risk Management

Artificial intelligence and predictive analytics are helping insurers and public entities assess exposures, improve underwriting accuracy, and identify emerging risk trends.

Despite increased competition in certain areas, carriers continue to focus on underwriting fundamentals. They are placing importance on credible loss history and jurisdictional risk when evaluating public entity accounts.

Ali Hoefle, VP of Marketing at Amwins Brokerage, said public entities face a unique set of risks tied to the critical services they provide. She added that Amwins specialists work closely with retail partners to structure programs that address current exposures.

The full Public Entity State of the Market Report is available from Amwins.

Amwins is the largest independent wholesale distributor of specialty insurance products in the U.S. The company serves retail insurance agents by providing property and casualty products, specialty group benefits, and administrative services. Based in Charlotte, North Carolina, Amwins operates through more than 155 offices globally and handles premium placements exceeding $50 billion annually.