CHICAGO, Nov. 9, 2016 /PRNewswire/ -- Impact
Forecasting, Aon Benfield's
catastrophe model development team, today launches the latest
edition of its monthly Global Catastrophe Recap report, which
evaluates the impact of the natural disaster events that occurred
worldwide during October 2016. Aon
Benfield is the global reinsurance intermediary and capital advisor
of Aon plc (NYSE:AON).
The report reveals that Hurricane Matthew swept through parts of
the Caribbean and United States, killing 49 people in the U.S. –
including 28 in North Carolina –
and 552 people in the Caribbean,
although the unofficial total in Haiti alone was as high as 1,600.
Total U.S. economic losses from Matthew were forecast to range
as high as USD10 billion, while
public and private insurance losses were estimated to possibly
reach USD5 billion. Much of the
inland flood loss in North
Carolina went uninsured due to low take-up of the U.S.
government's National Flood Insurance Program (NFIP).
Meanwhile, Matthew caused economic damage of more than
USD5 billion outside of the U.S.,
with Cuba (USD2.6 billion), Haiti (USD1.9
billion), and the Bahamas
(USD600 million) accounting for most
of the loss total.
Remnant moisture from Matthew brought flooding rain and high
winds to parts of Atlantic Canada,
where economic damages were expected to reach tens of millions
(USD).
Steve Bowen, Impact Forecasting
director and meteorologist, said: "The extensive footprint of
Hurricane Matthew left considerable damage and humanitarian impacts
from the Caribbean to Canada. The system also became the costliest
hurricane in the United States
since Sandy in 2012. Despite causing billions of dollars in damage,
it could have been even more catastrophic. Had several slight
wobbles not occurred, we are likely having an entirely different
conversation when it comes to the financial impact in the state of
Florida."
Other natural hazards to have occurred elsewhere during October
include:
- A series of strong earthquakes struck central Italy bringing damage and injuries to a region
still in the midst of recovering from a major tremor in August. One
fatality and dozens of injuries were reported, with catastrophic
damage occurring in several villages. The economic toll was
expected to be significant.
- Super Typhoon Chaba caused widespread disruption and damage in
South Korea claiming at least nine
lives. The General Insurance Association of Korea announced that
more than 33,100 claims had been filed totaling KRW143 billion (USD126
million). Overall economic losses were much higher.
- Tropical Storm Aere prompted widespread and significant
flooding in central Vietnam. At
least 31 people died and 122,000 homes were inundated. Significant
damage to agricultural interests was reported.
- Typhoon Sarika and Super Typhoon Haima both made landfalls in
the Philippines and China, killing at least 16 people and damaging
or destroying at least 115,000 homes. Aggregated economic losses
exceeded USD1.8 billion mainly due to
agricultural damage.
- Severe flooding in portions of Asia, Central
America, and Egypt claimed
at least 57 lives and damaged almost 210,000 homes.
To view the full Impact Forecasting October 2016 Global Catastrophe Recap report,
please follow the link:
http://aon.io/2eU9UQ3
Along with the report, users can access current and historical
natural catastrophe data and event analysis on Impact Forecasting's
Catastrophe Insight website, which is updated bi-monthly as new
data become available:
www.aonbenfield.com/catastropheinsight
Further information
For further information please contact the Aon Benfield PR team:
Andrew Wragg (+44 207 522 8183 / 07595 217168) David Bogg or
Alexandra Lewis
Follow Aon on Twitter: https://twitter.com/Aon_plc
For information on Aon plc. and to sign-up for news
alerts: http://aon.mediaroom.com
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SOURCE Aon plc