Impact Forecasting News

Natural Disasters in September Bring Costliest Damages to Date for 2018: Aon Report

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 …

July’s Droughts, Wildfires, Floods Caused Billions in Global Economic Losses: Aon

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 H1 Insured Natural Disaster Losses 40% Lower than 10-Year Average: Aon

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 …

U.S. Flood Models Still in Infancy, So Underwriters Must Be ‘Cautious Consumers’

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 Launches Updated Thai Flood Model to Support Underwriters in Market

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 …

May 2018 Saw Severe Weather in Nearly Every Global Region: Aon Report

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 in is latest monthly Global …

U.S. March Storms Cost Economy $3B; Argentina, Uruguay Drought $4B: Aon Report

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 …

January Windstorms to Cost Europe’s Insurers More Than $2B: Aon

European windstorms Friederike, Eleanor and Carmen wreaked widespread damage in January, causing insured losses of more than $2 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. Of the Atlantic storm systems that hit …

Insured Natural Disaster Losses in 2017 Were 38% of Economic Costs of $353B: Aon

Insured losses for last year’s 330 natural catastrophes reached US$134 billion, or 38 percent of their economic price tag of $353 billion, according to a report published by Impact Forecasting, Aon Benfield’s catastrophe model development team. The overall economic, or …

Vietnam Suffers Rare $1 Billion Natural Catastrophe Loss: Aon Benfield Report

Typhoon Damrey made landfall in Vietnam during November as a Category 2 strength storm, bringing estimated economic damages of VND22.1 trillion (US$1.0 billion) – a rare billion-dollar event for the country, according to Impact Forecasting, Aon Benfield’s catastrophe model development …