Steve Bowen News

A U.S. Storm that Will Break Insurance Records – and Other February Storms, Quakes

February saw a spate of winter storms in the United States, including the period from Feb. 12-20, which will become the U.S. insurance industry’s costliest winter weather peril on record, according to insurance broker Aon plc in its monthly Global …

U.S. Storms, Global Floods, Bushfires Cause Economic Damages of $3B-Plus in January

U.S. storms, Australian bushfires and hailstorms, and floods in various countries across the globe caused more than $3 billion in economic damages during January, according to Aon’s Global Catastrophe Recap report, which analyzes the monthly impact of natural disaster events. …

Natural Disasters in Past Decade Broke Records for Economic, Insured Losses: Aon

The past decade broke new records in terms of economic damages and insured losses, according to Aon’s latest catastrophe report. The costs to global economies reached US$2.98 trillion between 2010 and 2019, which was US$1.19 trillion higher than 2000-2009, said …

First Half Natural Disasters Cost Insurers $20B, Down 26% from 18-Year Average: Aon

Global insured losses from natural disasters during the first half were estimated at US$20 billion, which is 26% lower than the H1 average of US$27 billion seen during the years 2000-2018, according to Aon’s “Global Catastrophe Recap: First Half of …

Australia Floods Cost Insurers US$635M in February: Aon’s Catastrophe Recap

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 …

Insurance Covered $90B of Natural Disaster Losses in 2018, Leaving 60% Protection Gap

The economic costs of last year’s 394 natural catastrophe events came to US$225 billion with insurance covering US$90 billion of the overall total, creating the fourth costliest year on record of insured losses, according to an Aon report titled “Weather, …

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 …

Q3 2017 Likely to Be One of Costliest for Natural Disasters: Aon Report

The third quarter of 2017 is likely to break a new record as one of the costliest quarters for natural catastrophes, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. “The month of September was exceptionally busy and marked …

Catastrophes Cost Insurers $22B in 1H 2017; Economic Losses Totaled $53B: Aon

Global insured losses from natural disasters during the first half of 2017 are estimated at US$22 billion with 76 percent of these losses generated by U.S. events, according to a report issued by Impact Forecasting, Aon Benfield’s catastrophe model development …

U.S. Weather Remains Biggest Driver of Global Insurance Losses in 2017: Aon

Severe weather in the U.S. remains the largest contributor to global insurance losses in 2017 after April continued the trend with multi-billion dollar losses for public and private insurers, according to Impact Forecasting, Aon Benfield’s catastrophe model development team. “Much …