Aon plc announced on December 19, 2024, a collaboration with flood expert Fathom to enhance its Climate Risk Monitor solution with advanced flood risk capability. This enhancement allows clients to better understand the influence of a changing climate on flood perils worldwide. Climate Risk Monitor, launched in March 2024, enables clients to visualize and analyze operational exposures to physical climate risk.
The new collaboration utilizes high-resolution data to bolster Climate Risk Monitor's functionality across flash flooding, river flooding, coastal flooding, and rising sea levels. Aon clients can now assess U.S., UK, and Japan flood risk at a resolution of 10 square meters, and 30 square meters for other global regions. Liz Henderson, global head of Climate Risk Advisory for Aon, noted that flood peril dynamics are particularly sensitive to climate change, raising concerns about global insurability.
The enhanced solution provides forward projections of flood risk across various emissions scenarios, helping re/insurers understand insurability, support due diligence, and meet disclosure and regulatory requirements. This tool assists risk mitigation and transfer strategies, informing risk selection and pricing for property insurance placements.
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