Tag: climate conditions
Severe weather trends widen insurance protection gap
Climate change-induced extreme weather events have remained elevated across the globe in the last decade, proving disruptive to both economic and social activities. According to the global reinsurance broker, Aon, the 2023 economic losses due to natural catastrophes was 22% above the 21% century average – raising questions about the long-term affordability and sustainability of cover for vulnerable communities.
