Despite natural disasters and extreme weather growing, environmental risks were overshadowed by geopolitical conflicts, inflation and mounting national debts in this report.
Aon’s third quarter 2022 Global Catastrophe Recap highlights the strains on insurers from U.S. hurricanes, historic droughts and heatwaves in Europe, and unprecedented flooding in Pakistan.
Enhancement of building defenses, emergency planning and financial risk transfer can help businesses recover in the face of increasingly frequent and strong storms.
Procuring insurance coverage for fine art collections is becoming a challenge in areas prone to natural disasters, but there are practices collectors can put into place to help.
These tools can help underwriters navigate the troubled waters of property catastrophe losses resulting from more frequent and severe natural disasters.
“We leveraged our wildfire science and aerospace engineering expertise to develop a suite of wildfire models that includes a novel geospatial AI algorithm.”
Today, we are making great strides in leveraging technologies like machine learning and artificial intelligence (AI), which are being implemented alongside the OED standard to amplify the benefits to organizations.
The threat of wildfire destruction is expanding at a rapid rate due to climate change. Defensible space, wildfire resistant construction and resilience programs are three areas of focus pointed out by CNA loss prevention specialist Steve Hernandez.
Better data analytics is enabling a number of new parametric insurance solutions from a product to cover losses caused by an active assailant to ways to manage supply chain risk.
For a low frequency, high severity peril like earthquake, businesses need to know their risk management plans before a single pebble falls out of place.
A risk management root cause analysis points out the steps that led to the disaster in Surfside. Let this be a lesson, then, when dealing with risk management for all items.