Weather Trends | Aon (2024)

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Weather is one of four megatrends impacting global business today. Learn more below.

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Report

Explore all four megatrends in our 2024 Client Trends Report

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Robust Climate Strategies Will Unlock Capital to Protect People and Property

Amid workforce health and safety concerns, stakeholder and regulatory pressures, and exposure to physical and transitional risks, businesses face significant headwinds in addressing climate-related risks.

Weather and climate underpin many of the most significant risks businesses face today, with four of the top 10 global risks all impacted by weather, according to Aon’s 2023 Global Risk Management Survey. Data and analytics will be essential for adapting to a shifting climate and building a sustainable business model. Through sophisticated climate modeling, business leaders will be better positioned to develop strategies to close the insurance protection gap, navigate regulatory and stakeholder demands and unlock new sources of risk capital.

Data and analytics are also crucial for deploying strategies to protect the health and safety of the workforce. As chronic perils become more deadly — most notably extreme heatwaves — employers realize they must respond proactively to protect employees. Organizations should develop strategies to ensure employees and their families have access to health and benefit coverage that protects them from climate-related impacts and illnesses.

While volatility and complexity will remain an integral part of the climate narrative in the coming years, data-led decision-making will be central to building a sustainable future.

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  1. Deep Dive on Weather

  2. Our Latest Thinking

  3. How Aon Can Help

Weather Trends | Aon (11)

2024 Client Trends Report

Deep Dive on Weather

Extreme weather and a changing climate are impacting many of the risks businesses face today. To address future exposures, organizations will need advanced climate and natural catastrophe models and expertise that can assess chronic and acute risks.

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Insights to Make Better Weather Decisions
  • 31%

    Only 31 percent of the $380 billion in global economic losses from natural disasters were covered by insurance in 2023 — on par with the long-term average protection gap

    Source: Aon’s 2024 Climate and Catastrophe Insights report

  • 4

    Weather and climate underpin many of the most significant risks businesses face today, with four of the top 10 global risks all impacted by weather.

    Source: Aon’s 9th Global Risk Management Survey

Weather

With a changing climate, organizations in all sectors will need to protect their people and physical assets, reduce their carbon footprint, and invest in new solutions to thrive. Our Weather Collection provides you with critical insights to be prepared.

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  • Article 17 mins

    Build Resilience for an Extremely Active Atlantic Hurricane Season
  • Report 26 mins

    Climate Analytics Unlock Capital to Protect People and Property
  • Report 4 mins

    Climate and Catastrophe Insight
  • Article 21 mins

    How Investors are Making Better Decisions Amid a Changing Climate
  • Article 10 mins

    Improving Agricultural Practices to Address Climate Risks
  • Article 18 mins

    Understanding Freeze Risk in a Changing Climate
  • Podcast 10 mins

    On Aon Podcast: Climate Science Through Academic Collaboration
  • Article 10 mins

    How Companies Are Using Climate Modeling to Improve Risk Decisions
  • Podcast 9 mins

    On Aon Insights: Climate and Supply Chain
  • Article 11 mins

    Using Parametric Insurance to Match Capital to Climate Risk
  • Article 21 mins

    How the Construction Industry is Navigating Climate Change
  • Article 13 mins

    Record Heatwaves: Protecting Employee Health and Safety
How Aon Can Help
  • Claim Management

    Claim Management

  • Reinsurance

    Reinsurance

  • Risk Analytics

    Risk Analytics

  • Risk Management

    Risk Management

  • Risk Transfer

    Risk Transfer

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