One section of Deloitte's 2024 Financial Services Industry Predictions, focused on the impact climate change is having on commercial real estate insurance costs.

"Due to its location and topography, population growth and development in climate-vulnerable areas, and the growing impact of climate change, the United States leads the world in extreme weather catastrophes," the firm wrote. That includes cold waves, heat waves, wildfires, floods, and superstorms.

The insurance industry is uniformly responding in the one way it can — by raising premiums. The Deloitte Center for Financial Services projected that average monthly insurance costs for a U.S. commercial building "could increase from US$2,726 in 2023 to US$4,890 in 2030, at an 8.7% compound annual growth rate." The current average is already up from $1,558 in 2013.