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What’s happening: Frigid low temperatures are spreading across the U.S. and Canada, with freezing rain, sleet and accumulating ice impacting parts of the South and central U.S., resulting in tree damage, dangerous road conditions and power outages across the region.

Climate change is a significant source of economic volatility: Aon’s annual Weather, Climate and Catastrophe Insight examines the increasing frequency and severity of natural disasters around the world and how their resulting economic losses are protected. The latest report revealed $313 billion global economic loss from natural catastrophes in 2022, while total economic losses from winter weather peril in 2022 were $9.7 billion. Check out the report here.

Aon offers insights for organizations to help understand and mitigate the risks of severe weather and climate change:

• Weather events are becoming more severe and occurring more frequently around the globe. Organizations increasingly need to forecast their impacts and mitigate the physical and non-physical risks presented by these events. Read more about how Aon helps clients manage risks and build resiliency to mitigate extreme weather events.
• According to Aon CEO Greg Case, “Addressing the progression of climate change – and protecting businesses, markets and society from its negative impacts – is an industry-agnostic imperative that needs global collaboration.” Climate change is top of mind for organizations Aon’s 2022 Executive Risk Survey shows that 73 percent of leaders are putting time and resources into evaluating and considering the impact of climate change on decision-making and risk. Check out this Fast Company article by Case to learn about the three areas business leaders are telling us where they want to focus when it comes to tackling climate change.
• For more insights from Aon’s Weather, Climate and Catastrophe Insight, check out coverage in 
  Reuters, UNLEASH, The Insurer and Aon’s The One Brief.