Re/insurance companies must look to employ innovation and improve risk management to counter growing catastrophe losses, according to a report by Aon. between 2000 and 2017 wildfires, cyclones and storms caused $ 90bn losses, including $ 225bn insured losses, worldwide – a 30% increase on average losses Last year . The 2019 Aon Insurance Market Report identified cyber attacks, data breaches, reputational damage, business interruption, regulation, weather, natural disasters and an economic slowdown as the biggest risks for insurers.
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 2019 Aon Insurance Market Report identified cyber attacks, data breaches, reputational damage, business interruption, regulation, weather, natural disasters and an economic slowdown as the biggest risks for insurers.