Re / insurance companies must look to employ innovation and improve risk management to counter growing financial losses , according to a report by Aon . Last year wildfires , cyclones and storms caused $ 225bn losses , including $ 90bn insured losses , worldwide – a 20 % increase on average losses between 2000 and 2017 . Wildfires, cyclones and severe thunderstorms caused $225 billion in economic losses globally in 2018, $90 billion of which was insured. The 2019 Insurance Global Market Report identified cyber attacks , data breaches , reputational damage , service interruption , regulation , weather , natural disasters and an economic slowdown as the biggest challenges for insurers .
Re / insurance companies must look to employ innovation and improve risk management to counter growing financial losses , according to a report by Aon . Last year wildfires , cyclones and storms caused $ 225bn losses , including $ 90bn insured losses , worldwide – a 20 % increase on average losses between 2000 and 2017 . The 2019 Insurance Global Market Report identified cyber attacks , data breaches , reputational damage , service interruption , regulation , weather , natural disasters and an economic slowdown as the biggest challenges for insurers .