Earthquake Insurance Market Report 2026

The earthquake insurance market size has grown strongly in recent years. It will grow from $8.51 billion in 2025 to $9.05 billion in 2026 at a compound annual growth rate (CAGR) of 6.3%. The growth in the historic period can be attributed to increasing urbanization in seismic zones, rising awareness of natural disaster risks, historical earthquake loss events, development of catastrophe insurance products, expansion of mortgage-linked insurance requirements.

The earthquake insurance market size is expected to see strong growth in the next few years. It will grow to $11.52 billion in 2030 at a compound annual growth rate (CAGR) of 6.2%. The growth in the forecast period can be attributed to increasing climate-related risk exposure, rising adoption of parametric insurance models, growing use of predictive risk analytics, expansion of insurance penetration in emerging markets, increasing demand for business interruption coverage. Major trends in the forecast period include increasing adoption of risk-based premium models, rising use of geospatial risk analytics, growing demand for residential earthquake coverage, expansion of digital insurance distribution channels, enhanced focus on disaster-resilient policy design.

The rising frequency of natural disasters is expected to drive the growth of the earthquake insurance market in the coming years. A natural disaster is a catastrophic event triggered by natural forces, resulting in considerable loss of life, environmental damage, and destruction of private property or public infrastructure. The growing occurrence of natural disasters can be linked to factors such as higher temperatures, stronger storms, shifting weather patterns, urbanization, and changes in land use. Earthquake insurance provides financial coverage for earthquake-related damages, including repair costs for homes and buildings. This helps individuals and businesses maintain economic stability and recover more quickly following such natural disasters. For example, in January 2024, the National Oceanic and Atmospheric Administration (NOAA), a US-based federal scientific agency, reported that the United States experienced 28 weather and climate disasters in 2023, each causing at least 1 billion dollars in damages, up from 18 such disasters in 2022. Consequently, the increasing frequency of natural disasters is fueling the growth of the earthquake insurance market.

Leading companies in the earthquake insurance sector are focusing on the development of innovative insurance policies, such as natural catastrophe (Nat cat) insurance, to ensure quicker and more efficient payouts following natural disasters. NormanMax Syndicate 3939 is a trailblazing entity specializing in natural catastrophe parametric re/insurance products for events such as hurricanes, tropical cyclones, typhoons, and earthquakes. For instance, in May 2024, NormanMax Insurance Holdings, a US-based insurance company, introduced Syndicate 3939. These innovative parametric products offer transparent and rapid payouts, effectively addressing critical insurance gaps and can be distributed efficiently and at scale, tackling issues related to trapped capital. This syndicate is particularly noteworthy as it is the first of its kind at Lloyd's, focusing specifically on natural catastrophe parametric insurance products, including those covering hurricanes, tropical cyclones, typhoons, and earthquakes.

In April 2024, SageSure, a US-based insurance services company, acquired GeoVera MGA for an undisclosed amount. This acquisition was a strategic move by SageSure to expand its portfolio by integrating GeoVera's expertise in catastrophe-exposed insurance. GeoVera MGA is a US-based provider of residential earthquake insurance.

Major companies operating in the earthquake insurance market are Berkshire Hathaway Inc, State Farm Insurance, Nationwide Mutual Insurance Company, Allstate Corporation, Liberty Mutual Insurance Company, Zurich Insurance Group Ltd, Chubb Limited, United Services Automobile Association USAA, Mapfre SA, The Hartford Financial Services Group Inc, American Family Mutual Insurance Company SI, Farmers Insurance Group, Assurant Inc, Cincinnati Financial Corporation, Mercury General Corporation, Amica Mutual Insurance Company, GeoVera Holdings Inc, The California Earthquake Authority, The Earthquake Commission EQC, Tokio Marine Holdings Inc.

North America was the largest region in the earthquake insurance market in 2025. The regions covered in the earthquake insurance market report are Asia-Pacific, South East Asia, Western Europe, Eastern Europe, North America, South America, Middle East, Africa. The countries covered in the earthquake insurance market report are Australia, Brazil, China, France, Germany, India, Indonesia, Japan, Taiwan, Russia, South Korea, UK, USA, Canada, Italy, Spain.

The earthquake insurance market includes revenues earned by entities by providing residential earthquake insurance, commercial earthquake insurance, comprehensive earthquake insurance, and low-risk earthquake insurance, high-risk earthquake insurance. The market value includes the value of related goods sold by the service provider or included within the service offering. Only goods and services traded between entities or sold to end consumers are included.

The market value is defined as the revenues that enterprises gain from the sale of goods and/or services within the specified market and geography through sales, grants, or donations in terms of the currency (in USD unless otherwise specified).

The revenues for a specified geography are consumption values that are revenues generated by organizations in the specified geography within the market, irrespective of where they are produced. It does not include revenues from resales along the supply chain, either further along the supply chain or as part of other products.

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