Aon News

Update: Claims Teams Begin Handling Onslaught of Harvey Cat Losses

Hurricane Harvey has set a U.S record, according to the National Weather Service, dumping 51.88 inches of rain in parts of Texas. As the tropical storm moves over southern Louisiana, claims catastrophe teams are moving in to devastated cities in …

Business News: Worley Claims Services, Aon, ISO, Workers’ Comp Benchmarking Study

Worley Claims Services Acquires Apex Claims Service of New England Louisiana-based Worley Claims Services, LLC, an insurance claims services provider, announced the acquisition of Apex Claims Service of New England, LLC, a provider of daily and catastrophe commercial and residential …

U.S. Winter Storms, Tornadoes Kill 27 And Cause $1B in Losses

The U.S. was hit by the most January tornadoes in 18 years, in a month when extreme weather caused 27 deaths and more than $1 billion in economic losses, according to a risk modeler. Insured losses from the natural disasters …

Aon: Homeowners Premium in U.S. Set to Surpass $90B

U.S. homeowners premiums increased from $74 billion in 2011 to $89 billion in 2015, and will rise to a projected $91 billion for 2016 given prospective rate activity. Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc …

Autonomous Cars’ Effect on Auto, Cyber Insurance

Autonomous vehicles are expected to shake up the property/casualty market, as personal auto insurance premiums drop and cyber insurance steps in. As drivers look forward to a future of eating, reading and watching movies while being transported to destinations around …

Aon: Self-Driving Cars May Cut Auto Insurance Premiums By 40%

Premiums for U.S. auto insurers may drop more than 40 percent once the use of automated vehicles has been fully adopted by 2050 and driving becomes safer, according to insurance broker Aon Plc. “We as an industry need to act …

Zika’s Impact on Tourism, Health

By the end of 2016, nearly four million people may be infected with the Zika virus, according to the World Health Organization. In fact, the National Center for Atmospheric Research (NCAR) has found that factors like weather, travel and poverty …

Deadly Tornadoes, Floods Contribute to $4B in December Losses in the U.S.

Violent storms that struck the U.S. in December will cost more than $4 billion in damages, about half of which will probably be covered by insurers, according to estimates by Aon Plc. The disasters at the end of the month …

Aon: California Wildfire Claims Reach $1B as Peak Season Begins

The U.S. economy has sustained $2 billion in wildfire losses – the highest in eight years, according to the latest edition of Impact Forecasting’s Global Catastrophe Recap monthly report. The report, which evaluates the impact of the natural disaster events …

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 …