Over the past few years, we have seen the devastating impacts that hurricanes can have on communities, businesses and economies. In the face of climate change, we’re also seeing new phenomena created by hurricanes that can wreak havoc on cities thousands of miles away from the storm, as seen with Hurricane Ida in 2021. Ida made landfall in Louisiana but caused severe flooding in New York and New Jersey. According to Aon’s 2021 Weather, Climate and Catastrophe Insight Report, Hurricane Ida caused over $75 billion in economic losses and $36 billion in total insured losses; the third-costliest tropical storm on record for insurers.
This year’s hurricane season is already underway, and while it has been less active than previous years so far, many projections are still anticipating a very active season. With several months left in this year’s hurricane season, it’s crucially important for clients to understand the growing impacts that these storms can have on them and how they can prepare today.
On the latest episode of the “On Aon” podcast, host Sheena Singh, Aon’s SVP for Health Solutions, healthcare industry vertical, is joined by Jill Dalton, managing director of Aon's U.S. property risk consulting group, and Michael Panfil, Aon’s global practice leader of property risk control and engineering, to discuss this year’s hurricane season and how they’re helping clients ensure they are prepared for the risks related to these severe weather events. Together, they also dive into:
- How this year’s hurricane season is shaping up so far;
- The biggest physical and non-physical risks that hurricanes can pose to clients;
- The intensity of storm development as a growing concern due to climate change; and
- Technology that Aon is deploying to help their clients make better decisions during hurricane season.