Aon has launched its Climate Risk Monitor, a new tool that it says helps clients visualise and understand their exposures to physical climate risk in order to enable better business decisions.
According to Aon the property insurance market is increasingly influenced by climate-related perils, with $112 billion of insured losses caused by weather-related catastrophes in 2023. The Climate Risk Monitor assesses an organisation’s current and future exposures to key chronic risks – drought, extreme rainfall, extreme heat, freeze and wildfire – under different climate change scenarios, providing diagnostic reports on individual asset and portfolio impact, as well as geographical visualisations.
Risk managers can use this data to better understand climate risk and in turn inform property insurance placements for their organisations, collaborating with Aon’s brokers to help obtain optimal limits and renewals pricing. As part of Aon’s Risk Capital capability, the firm brings expertise, relationships, and analytics to unlock capital, which is accessed across markets, geographies, or instruments.
Climate Risk Monitor allows clients to assess evolving risk profiles and manage risk in locations…
