250 words…one minute read

In the news: Last week, an extreme outbreak of severe weather broke out across the U.S., with over 50 tornados reported in at least seven states.

To help organizations move from defense to offense in their efforts to mitigate the risks associated with severe weather events, Aon offers data, insights and solutions to help inform better decisions:

• The Insurer and Artemis highlighted insights from Aon’s Weekly Cat Report, which found that “Due to the widespread nature of the outbreak and severe structural damage as a result of multiple tornados, total economic and insured losses from the event were initially anticipated to reach into the hundreds of millions USD.” Sign up for Aon’s Cat reports here.
• Aon’s 2023 Weather, Climate and Catastrophe Insight reported $3.4 billion in insured losses from Windstorm Eunice last year, the costliest individual European windstorm since 2010. Read more in Artemis.
• Earlier this year, many U.S. regions battled heavy rain, wind and floods. Read more on how Aon is helping clients navigate increasing volatility related to climate change, unlock growth opportunities and accelerate the transition to a low-carbon economy here.

Last month, Aon updated its Impact Forecasting European Windstorm and Severe Convective Storm catastrophe models. Windstorm has been a major historical peril for European insurers and reinsurers, with average annual losses totaling $3.3 billion, according to Aon’s Catastrophe Insight data. The updated models allow clients to more comprehensively forecast their European exposures to assist with portfolio management and capital allocation. Learn more in Reinsurance News.