Insured losses from global disasters totaled $130 billion in 2022, with the Usa accounting for 71%, Aon PLC said inside a report Tuesday.
It was the second consecutive year the U.S. share topped 70 %, using the combined U.S. insured loss total in 2022 and 2022 at $176 billion – the greatest two-year total on record, Aon said.
Extreme weather events, most of which were heightened by global warming, were particularly notable in the U.S.
Hurricane Ida, which made landfall last August, resulted in $36 billion in insured losses for private and public insurers. The February Polar Vortex event that impacted The united states also led to a $15 billion insured loss, Aon said.
So-called “secondary perils,” including severe convective storms, wildfires, flooding, winter weather or drought, are more frequently driving annual loss years, Aon said in the report.
“Years dominated by “primary” perils (tropical cyclone and earthquake) are occurring with less regularity, though it doesn't minimize the possibility risk,” the report said.
The trend shows that the terms “primary” and “secondary” are increasingly “out of step” because so many from the largest secondary peril events in the last decade have resulted in a $10 billion insured loss, based on the report.
A high number of severe convective storms, including a December tornado outbreak and derecho resulted in the third-costliest year on record for U.S. insurers, Aon said.
Record heat and drought conditions set the stage for wildfires that led to a multi-billion-dollar insured loss. This included major fire events in California and Colorado.
