Aon estimates that insured catastrophe losses for the first half of 2024 will reach at least $58 billion, with total economic losses from natural disasters reaching $117 billion. The broker’s report reveals that 30 billion-dollar economic loss events occurred in the six-month period, with 22 of them taking place in the US. The protection gap, which is the difference between economic and insured losses, is estimated to be around 50%, one of the lowest on record. Aon attributes this to the high levels of insurance coverage for severe convective storm events in the US.
Source and Details