Global economic losses from natural disasters amounted to more than $45 billion during the first quarter of 2024, and the catastrophes are not over yet, as a very active hurricane season is expected in Mexico, Aon estimated.
The risk management firm said losses in the first quarter of 2024 were almost 50 percent higher than the average for recent years. The main events that gave rise to these losses were 12 events in the Americas and Asia, mainly in the United States, Canada, China and Japan.
In the case of Mexico, the predictions of a group of experts have shown that it could be a very active phase, especially from the North Atlantic area, where an average of 11 hurricanes are expected, although not all of them will make landfall.
The National Water Commission (Conagua) predicts 41 cyclones, of which five will make landfall; 15 to 18 tropical storms and hurricanes are also expected in the Pacific Ocean.
Therefore, insurers must anticipate these types of threats to create effective solutions under coverage schemes that benefit clients and different business sectors; according to studies carried out on this subject, hurricanes have caused insured damages of more than 200 billion dollars since 1950.
said Lorena Gutiérrez, director of Commercial Risk Solutions for Mexico and Central America at Aon.
It is predicted that for the next few months the main risks are associated with the hurricane season, due to the critical effects that the phenomenon could cause. The girlwhich favors favorable conditions for the formation of storms.