The economic fallout comes as the insurance industry has already absorbed significant losses from the conflict.

Since 1980, the U.S. has seen more than 453 weather and climate disasters that exceeded $1 billion each in individual damages.

The firm's 2027 Insurance Outlook points to smarter risk management, AI-driven efficiency and continued brokerage consolidation as insurers navigate a softening market and persistent litigation pressures.

Frozen and burst pipes are among the most significant winter exposures for homeowners.