Catastrophe Risks
COVID-19 Pandemic Continues To Underscore the Need To Build Resilience
As businesses continue to recover from the impact of the COVID-19 pandemic, the experience has underscored the importance of risk readiness and risk resilience. An Aon survey found that post-pandemic, building a resilient workforce is a top priority, with many companies focusing on operational resilience and retaining key employees. Read More
Modeling Firm Estimates German Flood Losses Could Reach €5 Billion
Insured losses from flooding in Germany this month could reach €5 billion, according to modeling firm AIR Worldwide. Read More
Global First-Half Disaster Losses Slightly Below 21st Century Average
Global natural disaster losses during the first half of 2021 were slightly below average, compared to 10-year and twenty-first century averages, according to a new report from Aon. The Aon report notes, however, that the year's first-half disaster losses were above a longer-term average from 1980 to 2020. Read More
Western Wildfire Trend Could Have Long-Term Implications for Insurers
The trend of damaging wildfires in the western United States resulting from excessive heat and drought conditions, combined with other adverse weather conditions, could have a significant impact on the property-casualty insurance market, according to S&P Global. The National Interagency Fire Center had recorded 35,086 fires nationwide through July 19. Read More
Paper Warns of Supply Chain Disruptions' Impact on Disaster Losses
A predicted above-average hurricane season and active wildfire season coupled with shortages in building supplies and global supply chain issues are setting the stage for a particularly challenging hurricane and wildfire season, according to a new white paper from the American Property Casualty Insurance Association. Read More