LONDON, Jan 25 (Reuters) - Natural catastrophes resulted in $97 billion in insured losses in 2020, 40% above the average for this century, in a year when insurers also faced hefty bills due to the coronavirus pandemic, insurance broker Aon (NYSE: AON ) AON.N said in a report on Monday.
Hurricane Laura, which hit the United States and Caribbean in August, caused a $10 billion insured loss, the largest global insured loss event of 2020, Aon said.
Economic losses from natural disasters - insured and uninsured combined - totalled $268 billion, with seasonal floods in China between June and September causing the greatest loss event at $35 billion.
Seasonal floods during the same period in India caused the greatest number of deaths, at 1,922, Aon said.
Social distancing requirements due to the pandemic made processing claims harder, Aon said, with insurers using drones or customers' own pictures rather than sending loss assessors to the scene of the disasters.
"Focus at the corporate and federal levels will be critical around investments in risk mitigation, resilience, and sustainability as the landscape around climate change solutions continues to accelerate with renewed urgency," said Steve Bowen, Director and Meteorologist for Aon's Impact Forecasting team.
Add Chart to Comment
We encourage you to use comments to engage with users, share your perspective and ask questions of authors and each other. However, in order to maintain the high level of discourse we’ve all come to value and expect, please keep the following criteria in mind:
- Enrich the conversation
- Stay focused and on track. Only post material that’s relevant to the topic being discussed.
- Be respectful. Even negative opinions can be framed positively and diplomatically.
- Use standard writing style. Include punctuation and upper and lower cases.
- NOTE: Spam and/or promotional messages and links within a comment will be removed
- Avoid profanity, slander or personal attacks directed at an author or another user.
- Don’t Monopolize the Conversation. We appreciate passion and conviction, but we also believe strongly in giving everyone a chance to air their thoughts. Therefore, in addition to civil interaction, we expect commenters to offer their opinions succinctly and thoughtfully, but not so repeatedly that others are annoyed or offended. If we receive complaints about individuals who take over a thread or forum, we reserve the right to ban them from the site, without recourse.
- Only English comments will be allowed.
Perpetrators of spam or abuse will be deleted from the site and prohibited from future registration at Investing.com’s discretion.