Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon.
Roughly 42% of economic losses were covered by public and private insurance entities, which translates into a global protection gap of 58% – the lowest on record, said Aon’s 2023 Weather, Climate and Catastrophe Insight. (The protection gap is the difference between total economic losses and the amount that is covered by insurance).
