Severe weather generated billions of dollars in insured losses in July 2019, according to Aon. The company said that the most costly weather-related loss was from a fire at one of its data centers located in California, which lost $25.5 million. Additionally, monsoon flooding in Southeast Asia killed hundreds of people and flooded roughly 600,000 homes, while European countries suffered a record-breaking heatwave. Economic losses from the monsoonal flooding, which mostly hit the states of Assam, Bihar, Maharashtra and Uttar, is expected to reach well into millions of US dollars, driven by significant costs to agriculture and infrastructure. Exposure to extreme weather will increase in the areas most at risk and the issue of resilience will become increasingly important, said meteorologist Steve Bowen, head of catastrophe insight in Aon’s Impact Forecasting team.
Severe weather generated billions of dollars in insured losses in July 2019, according to Aon. The company said that the most costly weather-related loss was from a fire at one of its data centers located in California, which lost $25.5 million. Additionally, monsoon flooding in Southeast Asia killed hundreds of people and flooded roughly 600,000 homes, while European countries suffered a record-breaking heatwave. Exposure to extreme weather will increase in the areas most at risk and the issue of resilience will become increasingly important, said meteorologist Steve Bowen, head of catastrophe insight in Aon’s Impact Forecasting team.