Re/insurance companies must look to employ innovation and improve risk management to counter growing catastrophe losses, according to a report by Aon. Last year wildfires, cyclones and storms caused $225bn losses, including $90bn insured losses, worldwide – a 50% increase on average losses between 2000 and 2017. “In a volatile business environment, it’s imperative for industry players to not only understand the impact of weather-related events and other changes, but also leverage the tools and expertise available to them,” explained Aon Canada’s Chief Broking Officer, Russell Quilley. The report, which was commissioned in partnership with the Insurance Institute for Highway Safety, found that insurers are investing more than ever before into disaster resilience.
Re/insurance companies must look to employ innovation and improve risk management to counter growing catastrophe losses, according to a report by Aon. Last year wildfires, cyclones and storms caused $225bn losses, including $90bn insured losses, worldwide – a 50% increase on average losses between 2000 and 2017. The report, which was commissioned in partnership with the Insurance Institute for Highway Safety, found that insurers are investing more than ever before into disaster resilience.