Aon: $3 Trillion in Disaster Losses in Last Decade
Aon reported that the last decade was the worst on record for economic losses from natural disasters, amounting to $3 trillion, or a trillion more than the previous decade.
The Asia-Pacific region was the worst hit in the 2010-2019 period, accounting for 44% of the total, with earthquakes, tsunamis, and tropical cyclones among the disasters. Aon said more intense weather events, bigger populations in the path of disasters, and greater supply chain disruption in a globalized economy contributed to the sharp rise in economic damage.
Aon reported that there were 409 natural catastrophe events totaling $232 billion in losses in 2019, with $71 billion covered by insurance programs.