Tag: economic losses

Financial, Geo-Political, Risk Management

Catastrophe losses for insurers to top $14bn for Q1 2022

April 14, 2022

Via: Reinsurance News

Losses arising from catastrophes for private and public insurers will top at least $14bn in the first-quarter of 2022, says a new report from re/insurance broker Aon. The report, the Q1 Global Catastrophe Recap, states that total economic losses in […]

Geo-Political, Risk Management

Hurricane Ida, Europe Floods Made 2021 Costly For Disasters

January 11, 2022

Via: Claims Journal

Damage wrought by Hurricane Ida in the U.S. state of Louisiana and the flash floods that hit Europe last summer helped make 2021 one of the most expensive years for natural disasters, reinsurance company Munich Re said Monday. The company’s […]

Geo-Political, Risk Management

Aon expecting $10bn economic hit from recent European floods

July 23, 2021

Via: Reinsurance News

The catastrophic floods seen recently across parts of Western and Central Europe are expected to drive preliminary economic losses of over $10 billion, according to a new Aon report. Torrential rainfall caused by a slow-moving area of low pressure “Bernd” […]

Risk Management, Trends

Global insurance protection gap hit $1.4 trillion high in 2020

June 15, 2021

Via: Artemis BM

The global insurance protection gap, or the gap between economic losses and those that are insured, widened in 2020 as pandemic related effects drove global macroeconomic resilience to decline by 18%, according to a measure by reinsurance firm Swiss Re. […]

Geo-Political, Risk Management

Insured 2020 cat losses estimated at $97bn by Aon

January 25, 2021

Via: Reinsurance News

Re/insurance broker Aon has estimated that catastrophe losses insured by the private sector or by government-sponsored programs totalled $97 billion over 2020. Overall economic losses were estimated at $268 billion, caused by 416 catastrophe events, leaving a protection gap of […]