January’s U.S. Storms, Australia Floods Bring Economic Damages Near $2B: Aon

Article 0 Comments 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 month: Pacific storm system on Jan. 5-Jan. […]

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

Article 0 Comments 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, Climate & Catastrophe Insight – 2018 Insight […]

Aon Cites Need for Mitigation as Insured Wildfire Losses Top $10B for Second Year

Article 0 Comments Total aggregated economic losses for the wildfires that have burned across Northern and Southern California throughout the month are expected to minimally exceed $10 billion, while insurance claims payouts for wildfires are set to exceed $10 billion in the United States for the second year running. Insurance […]

Tallying Losses from October’s Global Catastrophes

Article 0 Comments October was a deadly and costly month due to natural catastrophes, with the the U.S. and Europe being hit particularly hard, according to Aon’s Impact Forecasting. Total U.S. economic losses from October’s Hurricane Michael – including physical damage and net loss business interruption – was forecast to […]

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

Article 0 Comments 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 proved to follow that norm with multiple […]