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Aon defines a catastrophe as a natural event that causes $25 million or more in insured property losses, or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Aon’s natural catastrophe estimates include Puerto Rico and the U.S. Virgin Islands and include losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. They are subject to change as loss estimates are further developed. Natural catastrophe losses in the United States rose to an historic high in 2017 of $133 billion in 2020 dollars, the year of Hurricanes Harvey, Maria and Irma and costly California wildfires. Natural catastrophe losses fell in 2018 and 2019, but rose to $74.4 billion in 2020, up 88 percent from $39.6 billion in 2019.
($ millions)
|
(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands.
(2) Includes any direct physical damage or direct net loss business interruption costs.
(3) Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of February 23, 2021.
~ =Approximately.
Source: Aon.
(2020 $ millions)
|
(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands. Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of February 13, 2021.
Source: Aon.
($ billions)
|
(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands. Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of February 23, 2021. Adjusted for inflation by Aon using the U.S. Consumer Price Index.
Source: Aon.
($ millions)
|
(1) Natural disasters that cause at least $25 million in insured losses; or 10 deaths; or 50 people injured; or 2,000 filed claims or homes and structures damaged. Includes Puerto Rico and the U.S. Virgin Islands. Includes losses sustained by private insurers and government-sponsored programs such as the National Flood Insurance Program. Subject to change as loss estimates are further developed. As of February 23, 2021.
(2) Adjusted for inflation by Aon using the U.S. Consumer Price Index.
Source: Aon.
Below are charts from Munich Re, which include flood insurance losses in its calculations. The reinsurer estimated insured natural catastrophe losses in the United States for 2018 at $52 billion.
(Number of relevant events by peril)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.
(Overall and insured losses)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.
(Overall losses: nominal, inflation adjusted, and normalized)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.
(Overall and insured losses)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.
(Overall losses: nominal, inflation adjusted, and normalized)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.
(Insured property losses per state)
Source: © 2019 Munich Re, Geo Risks Research, NatCatSERVICE. As of March 2019.