250 words...one minute read 

What’s new: The 2023 Atlantic hurricane season begins today June 1, running through November 30. According to Aon’s 2023 Weather, Climate and Catastrophe Insight, Hurricane Ian in the U.S. was the second costliest natural disaster in 2022 for insurers, costing $50 to $55 billion in insured losses. Read more in Yale Climate Connections.  

What have we learned from the impacts of past hurricanes to help organizations navigate the increasing volatility from natural catastrophes in the future? 

• Aon is using science and technology to help re/insurers better prepare for the 2023 hurricane season including leveraging Aon’s Automated Event Response. This platform provides insurers with an overview of their potential portfolio losses based on data and modeling at the beginning of a hurricane’s track.   
• According to Michal Lörinc, head of catastrophe insight at Aon, “We see the role of the insurance industry as an integral part of the overall resilience of communities and regions around the world.” He noted that some communities have excelled at considering the threats of climate change in their approaches to construction. Though Hurricane Ian was deadly and costly, Florida’s rigorous building codes helped to limit the damage from the hurricane. Read more in Aon’s The One Brief, “Catastrophes and Coverage: What 2022 Can Teach Us About Risk.” 
• In the wake of Hurricane Ian, Aon sent a team of engineers, meteorologists and hydrologists to the impacted area to understand the lessons learned from this storm to help homeowners, governments and insurers make better decisions in the future to create more resilient and safe buildings. Check out this article by Aon, “Rebuilding for Resilience: Lessons Learned from Hurricane Ian,” for seven ways to protect your home.