The U.S. dealt with close to 4,400 reports of tornadoes, hail and straight-line winds in May, the most since 2011, according to weather data cited by Aon’s monthly Global Catastrophe Recap report. According to the report, the weather situation involved …
Some of April’s natural catastrophes included an elevated number of tornadoes in the United States, the strongest cyclone to hit Mozambique on record and costly seasonal flooding Eastern Canada that inundated nearly 10,000 homes, according to Aon’s latest monthly Global …
Damage from flooding in March 2019 is estimated at US$8 billion from events across the globe, according to Aon’s “Global Catastrophe Recap – March 2019.” “The major catastrophe events of March highlighted the continued vulnerabilities which exist in both developed …
Aon has formed a strategic alliance with Zesty.ai, a San Francisco-based insurtech startup, which uses artificial intelligence (AI) to enhance insurers’ property underwriting. Zesty.ai’s technology provides access to more than 130 billion data points on buildings and their surroundings which …
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 …
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, …
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 …
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 …
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 …
Aon Benfield’s catastrophe model development team, Impact Forecasting, has launched a U.S. severe thunderstorm (STS) scenario model that it says can help insurers more accurately estimate annual losses based on historical data. Severe thunderstorms can produce damaging winds in excess …
