Category:

Disaster & Management

Natural disasters cause a $73bn global economic loss,Insurance payouts totalled around $20bn in 1H 2019

According to the report, there were an estimated 163 natural disaster events in 1H 2019, which was below the 18- average of 180 and the median of 182. There were at least 17 separate billion-dollar economic events in 1H 2019 – led by the United States and Asia Pacific (APAC) with six events each; Europe, Middle East and Africa (EMEA) with four events, and the Americas with one event.

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Record-setting heatwave and costly severe weather sweep across Europe in June

Michal Lorinc, Catastrophe Analyst within Aon’s Impact Forecasting team, said: “An active start to summer in the Northern Hemisphere featured many large-scale weather events including severe thunderstorms, flooding, extreme heatwaves, and drought. Europe was at the center of many of these perils as record temperatures engulfed parts of France, and large hail and damaging winds led to more than USD730 million in insured costs in Germany alone. Impact Forecasting currently has a fully probabilistic hail model available for several European countries to help clients better understand the growing risks associated with hail to property exposure.”

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India could face productivity loss equivalent to 34 million jobs in 2030 due to global warming: UN 

With some 940 million people active in agriculture around the world, farmers are set to be worst hit by rising temperatures, according to the ILO data, which indicates that the sector will be responsible for 60 per cent of global working hours lost from heat stress, by 2030. 

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RMS releases underwriting tools deliver rapid, site-specific insights

Karen White, CEO of RMS, said: “We have listened to the market, and to our clients. We know that there are times when full in-depth analysis is essential and there are times when immediacy of information is paramount. With our expanding suite of data solutions, a consistent and superior view of risk from underwriting up to portfolio management is now possible. RMS Location Intelligence API and SiteIQ can deliver immediate results at the times when they are needed the most for our clients.”

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