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What’s happening: Communities around the world have been experiencing more extreme weather of all types in recent years, with flooding affecting several parts of the globe recently. In the U.S., Vermont towns are underwater as historic flooding reached 5.28 inches of rainfall in a single day with damages expected to reach hundreds of millions of dollars, while in southwest Japan, flooding and mudslides have left six people dead, five missing and 19 injured.  

Dig deeper: Aon’s 2023 Weather, Climate and Catastrophe Insight helps clients better understand the increasing volatility of natural disasters and a changing climate to inform business decisions.

• The report detailed how flooding in Pakistan, China, India and Oceana highlighted the need to strengthen resilience, as socioeconomic change and concentration of exposure and wealth in vulnerable areas remains a major loss driver. Read our press release in Asia Pacific.

• Zoom out: The firm has collaborated with Columbia University to enhance catastrophe model development to help organizations fulfill environmental, social and governance mandates. The peril-specific academic insights being built into the models are U.S. hurricane, U.S. wildfire and European flood and windstorm. Read more.