CHICAGO, Sept. 11, 2020 /PRNewswire/ -- Aon
plc (NYSE: AON), a leading global professional services firm
providing a broad range of risk, retirement and health solutions,
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 August 2020.
The report reveals that Hurricane Laura killed at least 33
people after making landfall in Louisiana, United
States, on August 27. Laura
came ashore at peak intensity after tying the record for the
fastest intensification rate in the Gulf
of Mexico during a 24-hour period. It also tied as the
strongest hurricane to make landfall in Louisiana since 1856. Total economic losses
were minimally listed at $10 billion,
but likely to be even higher. The portion covered by public and
private insurance entities is also expected to result in a notable
multi-billion-dollar pay-out.
Hurricane Isaias made landfall near North Carolina, United States, causing notable coastal and
inland water and wind damage, and spawned at least 39 tornadoes.
More than six million homes and businesses lost power due to the
storm, as total economic losses were estimated at $5 billion, of which slightly more than half is
expected to be insured.
Globally, nine tropical cyclones made landfall in August,
resulting in combined economic costs of near $20 billion.
Meanwhile, a major derecho event in the United States occurred on August 10 that killed at least four people and
resulted in extensive Midwest property and agribusiness damage. The
derecho occurred as part of a broader synoptic pattern from
August 8-12 that was estimated to
cause more than $6.5 billion in
economic damage. Insurers were expected to cover more than half of
the total. At least $5 billion was
attributed to the derecho alone.
Record heat, low humidity, and widespread dry lightning spawned
nearly 1,000 fires in California
during the month, killing at least eight people, destroying
thousands of structures, and leading to an insurance pay-out
expected to exceed $1 billion. These
fires have further persisted into early September.
Steve Bowen, director and
meteorologist on the Impact Forecasting team at Aon, said:
"North America and Asia endured another impactful month of
weather disasters in August. Tropical cyclones, severe convective
storms, and wildfires all left numerous financial and humanitarian
challenges in their wake as the globe continues to deal with
implications stemming from the COVID-19 pandemic. The focus for
re/insurers went beyond just tropical cyclone activity, however, as
a historic derecho in the United
States left a multi-billion-dollar insurance pay-out to
property and agribusiness owners, and early season wildfires
destroyed thousands of structures across California. Record seasonal monsoon flooding
in parts of Asia only further
highlighted the significant protection gap that exists in highly
vulnerable and exposed areas."
Further natural hazard events that occurred in August
include:
- Seasonal monsoon rains throughout August enhanced ongoing
floods in central and northern parts of the greater Yangtze River
basin in China, killing 92 people
and producing combined seasonal economic losses listed at
CNY188 billion ($28 billion), of which CNY41.5 billion ($6
billion) occurred in August alone.
- Severe thunderstorms impacted Brazil's Santa
Catarina State on August
14-15. Economic losses were minimally listed by government
officials at BRL87 million
($16 million), though the final
damage bill will likely be higher.
- Heavy seasonal rains in Niger
resulted in notable flooding along the River Niger and its
tributaries. According to governmental assessments, more than
22,000 structures were damaged or destroyed and there were at least
45 fatalities.
- Heavy rainfall in the Alpine region and southern Bavaria
resulted in increased water levels in parts of Germany and Austria on August
4-5. Economic losses were initially expected to reach into
the tens of millions of euros.
- Heavy rains triggered flooding in the southwestern Arabian
Peninsula, notably western Yemen,
in early August, resulting in 174 deaths.
- From August 5-8, a low-pressure
system moved through the state of New
South Wales, Australia, and resulted in heavy rainfall and
strong winds exceeding 120 kph (75 mph). Up to 2,000 structures
sustained damage and an extensive area of agricultural land was
inundated.
To view the full Impact Forecasting August 2020 Global Catastrophe Recap report,
please follow the link:
http://thoughtleadership.aon.com/documents/20201109_analytics-if-august-global-recap.pdf
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:
http://catastropheinsight.aon.com
About Aon
Aon plc (NYSE: AON) is a leading global professional services
firm providing a broad range of risk, retirement and health
solutions. Our 50,000 colleagues in 120 countries empower
results for clients by using proprietary data and analytics to
deliver insights that reduce volatility and improve
performance.
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Media Contact
Andrew Wragg
andrew.wragg@aon.com
+44 (0)7595 217168
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