LONDON, July 21 (Reuters) - Insured losses from natural
disasters hit a 10-year high of $42 billion in the first half of
2021, with the biggest loss related to extreme cold in the
United States in February, insurance broker Aon said on
Wednesday.
Overall economic losses came in below their 10-year average,
however, at $93 billion, Aon said in a report.
Disasters which hit developed countries typically lead to
greater insured losses. Seventy-two percent of global insured
losses occurred in the United States in the first half, Aon
said.
The Polar Vortex-induced period of extreme cold there led to
an insured loss of at least $15 billion.
Major storms in western and central Europe in June caused at
least $4.5 billion in insured losses, Aon said.
Floods in Europe since last week have likely caused $2-3
billion in reinsurance losses, analysts say.
Natural disasters were responsible for around 3,000 deaths
globally in the first half, with 800 fatalities from the
heatwave which hit parts of Western Canada and the U.S. Pacific
Northwest in late June.
"The juxtaposition of observed record heat and cold around
the globe highlighted the humanitarian and structural stresses
from temperature extremes," said Steve Bowen, managing director
and head of catastrophe insight on the Impact Forecasting team
at Aon.
Bowen added that as a result of climate change, "it becomes
more imperative to explore ways to better manage the physical
and non-physical risks that are more urgently requiring
actionable solutions".
British insurer Aviva called on Wednesday for urgent
action from policymakers, developers and insurers to protect
homes and businesses from the impact of climate change, saying
most were ill-prepared to handle extreme weather.
(Reporting by Carolyn Cohn, Editing by William Maclean)