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Aon’s Annual Climate and Disaster Report reveals that global economic losses from natural disasters reached $380 billion in 2023. Insured losses reached $118 billion, with a protection gap of 69%. 95,000 fatalities in the deadliest year since 2010
Spain, February 8, 2024.- Aon plc (NYSE: AON), a leading global professional services firm, has published its annual 2024 Weather, Climate and Catastrophe Insight Report, which identifies global trends in natural disasters. and climate to help make better decisions to manage volatility and increase global resilience. The report reveals that the 398 natural disasters that occurred around the world caused economic losses worth $380 billion (2022: $355 billion) during the 12-month period analyzed, 22% above the 21st century average, driven by major earthquakes and relentless severe convective storms (SCS) in the United States and Europe. Global insured losses during the year were 31% higher than the 21st century average, exceeding $100 billion for the fourth consecutive year. Given that insurance only covers $118 billion (2022: $151 billion), or 31% of total losses, the “protection gap” stood at 69% (2022: 58%), putting highlights the urgency of expanding insurance coverage. The number of large-loss natural claims reached record levels in 2023, with 66 economic loss claims worth $1 billion and 37 insured loss claims worth $1 billion. of dollars. Earthquakes caused the most economic losses, while severe convective storms were the most costly for insurers. New Zealand, Italy, Greece, Slovenia and Croatia recorded the costliest weather disasters in history. The report highlights that 95,000 people lost their lives worldwide due to natural hazards in 2023, the highest number since 2010, due to over everything to earthquakes and heat waves. In terms of climate, 2023 was the hottest year on record, with “unprecedented temperature anomalies” and record highs observed in 24 countries and territories. “Amid increasing volatility and complexity, there is a significant opportunity for organizations become more resilient to the climate and catastrophic risks highlighted in our report,” said Greg Case, CEO of Aon. “Working across the private and public sectors, we are accelerating innovation, protecting underserved communities, and better addressing the economic impacts of extreme weather to create more sustainable outcomes for businesses and communities around the world.” disasters, the full report and a short video are available at the following link.About Aon Aon plc (NYSE: AON) exists to shape the best decisions, to protect and enrich the lives of people around the world. Its professionals offer their clients in more than 120 countries and sovereignties advice and solutions that give them the clarity and confidence to make the best decisions to protect and grow their business. More information at: NOA. Issuer: Aon
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