Fitch Ratings says hurricane and wildfire losses will likely become major threats to profitability for U.S. property and casualty insurers, Reinsurance News reported Oct. 1. According to Fitch, the full year 2020 combined ratio for the industry will increase to 100 percent, compared to 98 percent at the middle of the year. This increase is the result of increased recognition of pandemic-related losses in casualty segments. However, those losses will likely be surpassed by natural catastrophe losses. Recent wildfires and hurricanes Laura and Sally could cause combined insured losses of more than $20 billion. This and other factors caused Fitch to hold a negative outlook for the sector. Fitch notes that the sector has already absorbed insured losses caused by the pandemic. The biggest impact was seen on the unrealized losses on equity investments.