Global re/insurance broker Aon has launched its Climate Risk Monitor, a tool to help clients visualize and understand their exposures to physical climate risk for better business decisions.
Aon’s Climate Hub in Singapore developed the Climate Risk Monitor in collaboration with the firm’s global reinsurance analytics experts.
This tool launches as the property insurance market is increasingly influenced by climate-related perils, with a reported $112 billion of insured losses caused by weather-related catastrophes in 2023.
Aon’s Climate Risk Monitor assesses an organization’s current and future exposures to key chronic risks including drought, extreme rainfall, extreme heat, freeze and wildfire under different climate change scenarios and subsequently provides diagnostic reports on individual asset, portfolio impact and geographical visualizations.
It also allows clients to assess evolving risk profiles and manage risk in locations with projected changes while assisting them to demonstrate climate understanding and planning to stakeholders, and supporting their climate disclosures.
Aon says that it will allow risk managers to better understand climate risk and in turn inform property…
