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Droughts, wildfires & floods cost over $7.3bn in July: Aon

Severe droughts, wildfires and flooding from torrential rain and typhoons have combined to cause in excess of $7 billion of economic losses in July 2018, with the insurance and reinsurance industry set to pay its share of the global bill.Impact Forecasting, the catastrophe risk analysis arm of insurance and reinsurance read the full article →

Argentinian trio developing climate index futures for agriculture

Three Argentinian enterprises have joined forces to develop climate index futures to help agricultural producers to better protect themselves against the impacts of severe or inclement weather, with drought the first targeted product launch.The three partners are Rofex, a futures exchange in the Argentine city of Rosario, the Argentina Clearing read the full article →

As El Niño intensifies global drought losses to surpass $8bn: Aon

As the 2015/16 El Niño event intensifies there is an expectation that global economic losses from drought will surpass the previous forecasts of $8 billion, suggesting a growing toll for crop insurance, reinsurance and any ILS investors exposed to agricultural lines.Reinsurance broker Aon Benfield's risk modelling specialist unit Impact Forecasting read the full article →