Catastrophe Risks
Severe Thunderstorms Drive First Half of 2024 Insured Losses to $60 Billion
Severe thunderstorms, particularly in the United States, led to $42 billion in insured losses during the first half of 2024, marking a significant rise in global natural catastrophe losses. Flooding in the United Arab Emirates, Germany, and Brazil further contributed to the above-average total of $60 billion in insured losses. Read More
Aon-Columbia Research Highlights Underestimated Climate Impact on Hurricanes
Aon and Columbia University have announced findings from their research collaboration on climate impacts on hurricanes, set for publication in August. The study suggests underestimated hurricane risks and emphasizes the need for adaptable risk management strategies. Read More
Severe Storms and Flooding Led to Major Losses in Early 2024
Severe storms and flooding caused $120 billion in overall losses globally in early 2024, with significant impacts in North America, Europe, and Asia-Pacific, according to the latest natural disaster update from Munich RE. Insured losses hit $62 billion, well above average. Read More
Parametric Insurance Market Set for Significant Growth: Projections to 2032
The parametric insurance market, valued at $14.8 billion in 2023, is projected to reach $39.3 billion by 2032, driven by advanced technologies. These enhance risk assessment and minimize basis risk, meeting the rising demand for quick, predictable coverage against climate change and natural disasters. Read More
Florida Property Insurance Market Sees Improvement Amid High Reinsurance Dependency
Florida property insurers exhibit high dependency on reinsurance, exceeding the broader property segment, says A.M. Best report. Read More