Aon plc has launched Automated Event Response (AER), designed to enable insurers to view real-time portfolio risks from two of the costliest perils: U.S. hurricane and European windstorm. Insurers, which aim to indemnify customers as soon as possible after a …
Australia’s Northern Queensland experienced widespread flooding from Jan. 26 to Feb. 7, which cost insurers more than A$893 million (US$635 million) with total economic losses of at least A$1.7 billion (US$1.2 billion). according to Impact Forecasting, Aon’s catastrophe model development …
Multiple winter storms and extreme cold led to 45 deaths and cost the U.S. economy $1 billion during January, according to Aon’s Global Catastrophe Recap – January 2019. The report listed the winter storm events in the U.S. during the …
Hurricane, flood, and earthquake damages made September the costliest month for natural catastrophes in 2018, according to a report from Aon’s Impact Forecasting team. September is typically the busiest month for tropical cyclone activity around the globe – and 2018 …
Many countries across the globe saw worsening in drought-related and wildfire conditions during July, which have led to hundreds of deaths and created a significant financial impact – particularly in the agriculture, forestry, water management and fisheries industries. This was …
Global insured losses from natural disasters for the first half were preliminarily estimated at US$21 billion, which is 40 percent lower than the 10-year average of US$35 billion and 19 percent lower than the 18-year average of US$26 billion, according …
The market for privately written inland flood insurance in the United States is growing rapidly, but flood modeling is still in its infancy. As a result, underwriters need to be aware of the differences that exist among commercial flood models, …
Aon plc, the London-based professional services firm, has launched an updated Thailand flood catastrophe model to improve understanding of this peril and help insurers build resilience for businesses and communities. Following the flood of 2011 that caused more than US$15 …
Four separate severe weather outbreaks swept across the United States during the month of May, which led to extensive hail, wind damage and flash flooding, according to Impact Forecasting, Aon Benfield’s catastrophe model development team’s latest monthly Global Catastrophe Recap …
A series of winter storms and severe weather in the United States during March brought economic damages of US$3 billion, with public and private insurers covering roughly two-thirds of the cost, according to a report published by Impact Forecasting, Aon …
