CHICAGO, Dec. 10, 2020 – Aon plc (NYSE: AON), a leading global professional services firm providing a broad range of risk, retirement and health solutions, today launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during November 2020.
The report reveals that Hurricane Eta made landfall and caused extensive losses in Nicaragua, before moving to Honduras and Guatemala, and subsequently making landfall in south central Cuba as a tropical storm. Total economic losses in Central America were estimated at nearly $7 billion, most of which were uninsured.
Eta later made two landfalls in Florida as a tropical storm, prompting locally heavy rainfall and flash flooding, storm surge, and tropical storm-force wind gusts across the state. Total U.S. economic losses were tentatively estimated at $1.1 billion, with public and private insurers covering approximately half of the loss.
Hurricane Iota became the first Category 5 hurricane of the 2020 Atlantic Season on November 16, making landfall in Nicaragua on the same day. The storm produced dangerous coastal and inland flooding in addition to high wind across Central America, with extensive impacts experienced in Nicaragua and Honduras. Damage was compounded as many localities were still recovering from the impacts of Hurricane Eta. Total economic losses were expected to reach $1.25 billion, most of which will be uninsured.
In Asia, Super Typhoon Goni became the strongest storm at landfall in recorded history. At its peak, Goni attained one-minute average sustained winds of 315 kph (195 mph), before making landfall near Bato town in Catanduanes Province of the Philippines on November 1. At least 31 people were killed and nearly 400 others were injured. Approximately 250,000 homes and thousands of other structures were damaged or destroyed, and a vast area of agricultural land was also affected. Economic losses to agriculture and infrastructure alone were estimated at PHP20 billion ($415 million), amid an overall economic toll expected to approach $1 billion.
Michal Lörinc, catastrophe analyst for Aon’s Impact Forecasting team, said: “While not historically one of the most active months for tropical cyclones, November 2020 set multiple records. Most notable was the landfall of Typhoon Goni in the Philippines, which unofficially came ashore as the strongest landfalling global storm on record. Hurricanes Eta and Iota became two of the fastest-intensifying storms in the Atlantic, and Iota was the latest-forming Category 5 storm on record for the basin. While 2020 storms have not set any new financial loss milestones, the scientific records serve as a reminder of the risks posed to both developed and emerging markets.”
Further natural hazard events to have occurred in November include:
To view the full Impact Forecasting November 2020 Global Catastrophe Recap report, please follow the link:
Along with the report, users can access current and historical natural catastrophe data and event analysis on Impact Forecasting’s Catastrophe Insight website, which is updated bi-monthly as new data become available:
Notes to editors