Aon Benfield News

Aon: Matthew Caused $15B Impact on U.S., Caribbean Economies

Total U.S. economic losses from Hurricane Matthew were forecast to range as high as $10 billion, while public and private insurance losses were estimated to possibly reach $5 billion, according to Impact Forecasting. Aon Benfield’s catastrophe model development team released …

Sharing Economy, New Technology Pose New Questions for Insurers

Emerging risks associated with the sharing economy and new technology pose new challenges for insurers, according to members of the International Association of Claim Professionals (IACP) who sat down with Claims Journal for an exclusive interview. Marc Karnell, global head …

Claims Has to Up its Game to Attract New Hires

With the expected exodus of thousands of skilled claims professionals within the next few years, concern is growing among insurers in how to best address the need for experienced claims employees. In an exclusive claims executive roundtable with Claims Journal, …

May Global Disasters Result in $5B in Claims

Global disasters lead to at least $7 billion in claims as insurers aid the recovery process following May wildfires, floods and storms, according to the latest Impact Forecasting report. Aon Benfield’s catastrophe model development team released the latest edition of …

Aon Offers Insurers Thunderstorm Model With 7.5M Different Scenarios

Impact Forecasting, Aon Benfield’s catastrophe model development team, has launched its U.S. severe thunderstorm (STS) scenario model to help insurers more accurately estimate annual losses based on historical data. Aon Benfield is the global reinsurance intermediary and capital advisor of …

Multi-Billion Dollar Loss Expected From East Coast Blizzard

Massive blizzards that paralyzed much of the U.S. East Coast in the past few days are likely to cause “multi-billion” dollar economic losses in one of the worst storms in the region in over a century, reinsurance broker Aon Benfield …

California Wildfires Cause Close to $2B in Damage

Two massive wildfires that burned up parts of Northern California, killing six people and forcing the evacuation of thousands of people, did nearly $2 billion in damage, according to a global insurance company. A report by London-based Aon Benfield found …

Aon Catastrophe Report: Global Drought Losses to Surpass $8B as El Niño Intensifies

A new report reveals that as a result of severe drought conditions in the western U.S. total economic losses are expected to reach $3 billion – mostly attributable to agricultural damage in California. Several Caribbean and Central American nations issued …

Aon’s June Catastrophe Report Outlines $500M Insured Losses After U.S. Storms

China’s monsoon losses approached $4 billion and the U.S. sustained nearly $500M in insured losses as a result of severe storms in June, according to Impact Forecasting’s latest edition of its monthly Global Catastrophe Recap report. The report evaluates the …

May Storms Cause $1B Worth of Insurance Claims

Economic losses from severe May storms, tornadoes and floods were estimated at nearly $3 billion, with insurance insured losses set to easily exceed $1 billion despite low flood insurance penetration in parts of Oklahoma and Texas, according to the latest …