An analysis of catastrophe losses in 2018 shows that the protection gap is not closing and that catastrophe risk has continued to evolve and is more complex than ever, according to Aon’s latest Weather, Climate & Catastrophe Insight: 2018 Annual Report. Aon, Catastrophe, Risk, Insurance, Report, Protection Gap, Natural disasters, Losses, Global
Weather, Climate & Catastrophe Insight has reported a protection gap between the $90bn of cover provided by private sector and government-sponsored insurance programmes and the $225bn in total costs, in its annual Insurer Aon for 2018. Aon’s Impact Forecasting team commented that catastrophe risks were evolving as a result of climate change and a combination of socioeconomic factors. The report broke down the 394 natural catastrophe events for the year, led by major cyclones and wildfire.