Aon confirms huge number of nat cat losses not insured

Aon | January 22, 2020

Aon confirms huge number of nat cat losses not insured
Aon has published its latest catastrophe report, which points to a gaping insurance hole for 2019. According to the broking giant’s Weather, Climate & Catastrophe Insight: 2019 Annual Report released today, last year’s 409 natural catastrophe events equated to $232 billion in economic losses. Of this figure, however, only $71 billion was covered by insurance – be it government-sponsored programmes or coverage from the private sector. What this translates to is a whopping 69% global protection gap in 2019. A faint silver lining is the fact that the percentage of uninsured nat cat economic losses in the period, while significant, is the sixth-lowest since 2000.

Spotlight

The insurance industry has not evolved in any significant way since its inception. And yet, thanks to its positioning as a ‘must-have’ product, it remains one of the most lucrative industries in the world.

Spotlight

The insurance industry has not evolved in any significant way since its inception. And yet, thanks to its positioning as a ‘must-have’ product, it remains one of the most lucrative industries in the world.

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