LONDON, 14 February 2023 - Aon plc (NYSE: AON), a leading global professional services firm, today announced the findings of Hurricane Ian: Rebuilding for Resilience, a project to investigate one of the most costly storms on record in order to inform and enhance future risk mitigation strategies.
In the wake of Hurricane Ian, Aon sent a team of engineers, meteorologists and hydrologists to affected areas to evaluate storm impacts with a view to helping homeowners, governments and insurers make better decisions around creating more resilient and safer buildings.
Aon’s assessment revealed that while outdated construction methods had often resulted in catastrophic damage, Florida’s enhanced building code was successful in protecting homes, suggesting that other states could adopt such measures to protect communities. Florida’s first statewide building code was introduced in 2002.
Dan Dick, global head of property analytics at Aon’s Reinsurance Solutions, said: “Our teams gained first-hand experience of the devastation caused by this historic hurricane, which allowed us to conduct thorough analyses and identify practical steps to improve structural integrity and rebuilding for resilience. As climate change creates uncertainty around future weather patterns, it is important for us to consider how we might build future resilience through such learnings.”
The findings will help assist homeowners and other affected parties to improve their risk mitigation measures, and considers key areas of potential weakness – roof coverings, roof decks, roof to wall connections, windows, garage doors, foundations, and flood vents. A summary of the analysis is available at https://view.ceros.com/aon/wcc-interactive-1/p/1.
According to Aon’s recently launched 2023 Weather, Climate and Catastrophe Insight report, Hurricane Ian caused an economic loss of more than $95 billion and an insured loss of approximately $50-55 billion. The event was the second-costliest natural catastrophe in history from an insurance perspective, surpassed only by Hurricane Katrina in 2005, which resulted in nearly $100 billion in insured losses on a price-inflated basis.
For further information about the impact of Hurricane Ian and global natural catastrophes, please visit Aon’s 2023 Weather, Climate and Catastrophe Insight report.
For broad reinsurance market insights, view Aon’s Reinsurance Market Dynamics report at https://aon.io/rein-market-dynamics-jan1.
For more information about Aon’s Reinsurance Solutions, please visit:
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