While the number of catastrophic events such as floods and hurricanes rose, Aon says the protection gap was one of the lowest on record
Natural disasters, many driven by climate change, caused global economic losses of $313 billion in 2022, insurance broker Aon estimated on Wednesday, of which less than half was insured.
Yet, while the number of catastrophic events such as floods and hurricanes rose - at least 421 individual events compared to an average of 396 since 2000 - Aon said the protection gap was one of the lowest on record. According to the report, 75% of the global insured losses occurred in the United States with Hurricane Ian, which hit Florida in September 2022, causing insured damages in a range between $50 and $55 billion from total economic losses of $95 billion.Aon estimated about 31,300 people died due to natural catastrophe events in 2022, of which about two thirds were linked to severe heatwaves in Europe between June and July.
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