indemnity – Page 2 – Desdemona Despair

Map showing significant economic loss events in 2022. Direct economic losses resulting from natural disasters in 2022 are estimated at $313 billion. This is close to the 21st century average, after adjusting actual incurred damage to today’s dollars using the U.S. Consumer Price Index. Though 2022 was far from record-breaking in terms of overall losses, it saw many impactful and costly events across the globe. Visualizing the geographic distribution of 2022 events allows for distinguishing certain patterns, including higher frequency of medium-sized Severe Convective Storm (SCS) events in the U.S. and Europe, and the prevalence of flooding events in Africa, Southeast Asia and Oceania. The map primarily shows the economic impact, which to some extent correlates with concentration of wealth — this is not a result of a reporting bias. What this map does not highlight is the humanitarian crises and displaced communities, as many events with significant human impacts do not necessarily translate into a high financial toll in terms of direct damage. Note that significant price inflation throughout the year already resulted in notable increases of per-event losses. Graphic: Aon

January 25, 2023

Aon: Global insured losses from natural disasters exceeded $130 billion In 2022, driven by second-costliest event on record – More than 19,000 heat-related deaths in Europe

CHICAGO, 25 January 2023 (PRNewswire) – Aon plc (NYSE: AON), a leading global professional services firm, today published its 2023 Weather, Climate and Catastrophe Insight report, which identifies global natural disaster and climate trends to help make better decisions to manage volatility and enhance global resilience. The report reveals that natural disasters caused a $313 billion global economic loss […]

Aerial view of a flooded home that is partially underwater in Gilroy, California, on 9 January 2023. Photo: Josh Edelson / AFP / Getty Images

January 22, 2023

California storms leave billions of dollars in damage to businesses, homes, and infrastructure – Few homeowners have flood insurance – Total costs associated with storms estimated at $31 billion to $34 billion

By Jim Carlton 21 January 2023 ANTIOCH, California (The Wall Street Journal) – Paradise Skate Roller Rink was preparing to host a New Year’s Eve bash when floodwaters poured in from a nearby creek, destroying the wooden floor and leaving the decades-old business in this San Francisco Bay Area suburb out of commission for months. […]

Waves lap the eroded beach below the half-collapsed homes of Nina Lavigna, at left, and her neighbor, after Hurricane Nicole swept away sand from the beach and from under foundations, Saturday, 12 November 2022, in Wilbur-By-The-Sea, Fla. Photo: Rebecca Blackwell / AP Photo

November 14, 2022

Florida county puts damage from Hurricane Nicole at $481 million – “The structural damage along our coastline is unprecedented”

DAYTONA BEACH SHORES, Florida, 14 November 2022 (AP) – Damages are estimated at more than $481 million in a central Florida coastal county where homes collapsed into the Atlantic Ocean following Hurricane Nicole last week. The damages from the category 1 storm in Volusia County, home to Daytona Beach, exceeded those from the much stronger Hurricane Ian, […]

Insured losses linked to extreme weather in Canada, 1983-2021. Data: Insurance Bureau of Canada. Graphic: Reuters

August 8, 2022

Canada village razed by wildfire wrestles with climate-proofing its future – “I’m not expecting I’ll be rebuilding ever”

By Nia Williams 5 August 2022 REVELSTOKE, British Columbia (Reuters) – A year after a wildfire destroyed the western Canadian village of Lytton, residents, municipal leaders, and the British Columbia government are grappling with the slow and costly reality of future-proofing a community against climate change. The remote village sits at the confluence of the […]

SDG Indicator 16.1.1 Detected victims of intentional homicide, by sex (women) vs. SDG Indicator 1.5.1 Number of people affected by disaster. Research shows that violence against women and girls increases in the aftermath of disasters. At the extreme end of the scale, this takes the form of intentional homicides. Data: United Nations Department of Economic and Social Affairs analysis based on Global Sustainable Development Goal Indicators Database (UN DESA, 2021). Graphic: UNDRR

May 8, 2022

Humanity entering “spiral of self-destruction”, UN warns – “By deliberately ignoring risk and failing to integrate it in decision making, the world is effectively bankrolling its own destruction”

26 April 2022 (France 24) – Humanity is suffering from a “broken perception of risk”, spurring us into activities and behaviours that cause climate change and a surging number of disasters around the globe, the UN warned Tuesday. In a fresh report, the UN Office for Disaster Risk Reduction, or UNDRR, found that between 350 and […]

John Lawrence and Payton Campbell (unseen at rear) with their children Harlow and Aria inspect a flooded road near their home on 2 March 2022 in Dungay, Australia. Several northern New South Wales towns were forced to evacuate as Australia faced unprecedented storms and the worst flooding in a decade. Photo: Dan Peled / Getty Images

March 29, 2022

Coastal home buyers are ignoring rising flood risks, despite clear warnings and rising insurance premiums

By Risa Palm and Toby W. Bolsen 25 March 2022 (The Conversation) – Apollo Beach, Florida, is a maze of canals lined with hundreds of houses perched right near the water’s edge. The whole community, just south of Tampa, is only about 3 feet above sea level, meaning it’s at risk from storm surge as […]

Lismore, Australia residents Tim Fry and Zara Coronakes and son Ezekiel stand outside the remains of their flooded home on 11 March 2022. Photo: Jason O'Brien / AAP

March 27, 2022

After the Australia floods, the distressing but necessary case for managed retreat – “Is it fair for taxpayers to carry the huge burden of paying for future rescue and relief costs?”

By Antonia Settle 13 March 2022 (The Conversation) – From Brisbane to Sydney, many thousands of Australians have been reliving a devastating experience they hoped – in 2021, 2020, 2017, 2015, 2013, 2012 or 2010/11 – would never happen to them again. For some suburbs built on the flood plains of the Nepean River in […]

Aerial view of the town of Beenleigh, Queensland on 29 February 2022 compared with 2 March 2022 (after flooding). The images were captured by the Nearmap proprietary aerial camera system attached to planes. Photo: Nearmap / The Washington Post

March 23, 2022

Australia’s cataclysmic floods raise specter of permanent retreat as towns become uninsurable – Sydney to be hit by another 100mm (4 inches) of rain in four days as bureau warns of flood fatigue – “The taxpayer is now the insurer”

By Sarah Keoghan and Laura Chung 22 March 2022 (SMH) – The Bureau of Meteorology has urged residents in flood-prone areas to remain vigilant as 100 millimetres of rain is forecast for Sydney over the next four days. Senior meteorologist Jackson Browne said the weather bureau was concerned flood-fatigued residents living in at-risk areas may […]

Cumulative global insured losses by peril in 2021. Aggregated costs for insurers have been largely dominated by the Tropical Cyclone and Severe Weather perils this century. The two perils combined for more than $1 trillion, or 60 percent of the total cumulative industry losses, of which roughly 74 percent was incurred in the United States. The Severe Convective Storm peril has also increasingly separated itself as accounting for the highest number of billion-dollar events. Graphic: Aon

January 27, 2022

Aon: 2021 was third costliest year on record for weather and climate-related events – Germany, Belgium, Austria, Luxembourg, and China recorded the costliest insurance industry events on record

CHICAGO, 25 January 2022 (Aon) – Aon plc (NYSE: AON), a leading global professional services firm, today published its 2021 Weather, Climate and Catastrophe Insight, which evaluates the increasing frequency and severity of disruptive natural disasters and how their resulting economic losses are protected globally. This data serves as the foundation for insights that can help […]

Results from the WEF Global Risks Perception Survey 2020. The Global Risks Network chart shows how respondents rank the most concerning risks globally and their drivers. Data: World Economic Forum Global Risks Perception Survey 2020 / The Global Risks Report 2021. Graphic: WEF

February 28, 2021

WEF Global Risks Report 2021: Risk landscape dominated by pandemic and climate change – “Ignoring risks doesn’t make them go away”

By Colleen Zitt 3 February 2021 (Zurich) – As Chief Risk Officer for Zurich North America, I eagerly await the annual release of the World Economic Forum’s (WEF) Global Risks Report. This year’s 2021 edition is no exception. Its thoughtful, laser-sharp analysis of short- and long-term global risks — dominated by the COVID-19 pandemic and climate change — […]