The report identifies the Upper Midwest and Great Lakes regions as particularly affected by early-season severe weather outbreaks. These events have led to significant financial losses for insurance carriers. Heatwaves are highlighted as an evolving risk, with impacts on human health, agriculture, energy systems, and infrastructure. While El Niño typically reduces Atlantic hurricane activity, the report warns of tail risks, including the possibility of extreme events and elevated seasonal losses due to warm ocean conditions and shifting landfall patterns.