Aon Impact Forecasting News

Natural Disasters Cost Insurers $39B During H1 2022, 18% More Than Average: Aon

Insured losses from global natural disaster events were estimated at $39 billion during the first half of 2022, 18% higher than the 21st century average of $33 billion, driven by persistent severe convective storm (SCS) events, according to Aon in …

Markets/Coverages: Aon Incorporates Climate Science Into European Flood Models

Insurance broker Aon has incorporate the latest climate science into its Impact Forecasting’s European flood models to help enable insurers to access more accurate loss estimates to help make better decisions for underwriting, reinsurance and regulatory requirements. The models are …

Natural Disasters Cost Global Economy $32B in Q1, With Only $14B Insured: Aon

Preliminary economic losses from natural hazards billion during the first quarter of 2022 totaled $32, of which less than 50% (or $14 billion), was covered by public and private insurers, according to a report published by Aon. Although the first …

Only 38% of 2021’s Natural Disaster Losses of $343B Were Covered by Insurance: Aon

Natural disasters cost global economies a total of $343 billion in 2021, compared with $297 billion in 2020, according to Aon’s “2021 Weather, Climate and Catastrophe Insight” report. Insured losses from 2021’s natural disasters reached $130 billion, which was well …

Record Rainfall, Floods Across Globe Generate Billions in Economic Damages: Aon

November was a wet month in many countries across the globe, with heavy rains and flooding causing billions of dollars of economic losses, according to Aon’s monthly Global Catastrophe Recap report, which each month evaluates the impact of global natural …

U.S. Severe Weather Insured Losses Surpassed $20B After Rough October: Aon

Annual U.S. severe weather insured losses for 2021 are jumping above $20 billion after a rough October, even before the year is complete, according to a new Aon report. “October is typically considered a ‘second season’ for severe weather in …

Canary Islands’ Volcanic Eruption Reminds Insurers of Challenges of Non-Modeled Perils

The ongoing eruption of the Cumbre Vieja volcano, located on the La Palma Island in the Canary Islands archipelago of Spain, is a reminder to insurers of the challenges posed by non-modeled perils,” commented Michal Lörinc, senior catastrophe analyst for …

U.S. Hurricane Ida, Haiti Quake, Multiple Major Wildfires Among August’s Disasters: Aon

Hurricane Ida will likely become one of the costliest U.S. mainland hurricanes on record both on a nominal and inflation-adjusted basis, according to Aon’s monthly Global Catastrophe Recap report, which evaluated the impact of natural disaster events worldwide during August …

German, Chinese Insurers Face Record Disaster Claims as Extreme Weather Intensifies

Extreme precipitation in mid-July resulted in the costliest flooding events on record for German and Chinese insurers, which face potential losses of $6.5 billion and $1.7 billion, respectively, according to Aon’s monthly catastrophe report. Germany is likely to see as …

First Half Insured Losses From Natural Disasters Reach 10-Year High

Insured losses from natural disasters hit a 10-year high of $42 billion in the first half of 2021, with the biggest loss related to extreme cold in the United States in February, insurance broker Aon said on Wednesday. Overall economic …