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SGT Unit Supply Specialist
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PO1 William "Chip" Nagel
..."Economic losses from natural disasters in 2022 were estimated at $313 billion, with an insurance price tag of approximately $132 billion, according to Aon.

Roughly 42% of economic losses were covered by public and private insurance entities, which translates into a global protection gap of 58% – the lowest on record, said Aon’s 2023 Weather, Climate and Catastrophe Insight. (The protection gap is the difference between total economic losses and the amount that is covered by insurance).


Data show that 2022 was the fifth costliest year on record for insurers, with approximately $50 billion-$55 billion of global insured losses resulting from Hurricane Ian in the United States.

As the second-costliest natural catastrophe in history from an insurance perspective, Hurricane Ian was responsible for about 30% of economic and 40% of insured losses globally, said Aon, noting that Hurricane Ian is only surpassed by Hurricane Katrina at $99 billion on a price-inflated basis.

While a large part of the global disaster losses remains uninsured, 2022 recorded one of the lowest protection gaps, close to the record year of 2005 when roughly 40% of losses were covered. The report attributes the lower protection gap to the fact that both 2022 and 2005 saw extremely costly hurricane events in the U.S., a country with a relatively mature insurance market."...
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