Lloyd’s latest systemic risk scenario has said the global economy could be exposed to potential losses of $13.6trn over a five-year period from the threat of a hypothetical future human pandemic.

The impact of Storm Darragh, which hit western England and Wales over the weekend, serves as "another wake-up call" for (re)insurers over the escalating losses from extreme weather events, according to Swiss Re's Jason Richards.

The recent long-duration snow event that affected portions of southern Canada and the northern US between 28 November and 3 December could cause tens of millions of dollars in economic and insured losses, according to Aon.

Loss aggregator Perils has disclosed a third industry loss estimate of €1.58bn ($1.67bn) for the flooding that impacted parts of southern Germany between 31 May and 6 June 2024.

Less than half (45 percent) of leaders at large and mid-sized UK businesses believe their cyber insurance cover is effective in reducing losses in the event of cyber incident, a new study by Resilience has found.

Colombian energy firm Celsia received a multi-million-dollar payout on its weather derivative program this year after a drought affected hydropower production in South America.

Economic threats continue to "overshadow" cyber and climate risks among global executives, a new survey by the World Economic Forum has found, although extreme weather entered the top five risks among G20 countries this year.

Estimated insured losses from natural catastrophes are on track to exceed $135bn in 2024, the fifth consecutive year insured losses have passed the $100bn mark, according to Swiss Re Institute.

ILS investment manager Twelve Capital projects insurance industry losses from the 2024 Atlantic hurricane season to range between $30bn and $50bn, which had "minimal" impact on the cat bond market, according to its seasonal review.

This year's tropical cyclone season was marked by "exceptionally severe" storms, with losses significantly above the 10-year average, analysis by Munich Re has found.

The National Flood Insurance Program (NFIP) has already paid out over $1.4bn in losses stemming from Hurricane Helene as it works to process the more than 56,000 claims that have been filed since the storm made landfall in late September.

The CrowdStrike outage in July will prompt insurers to review cyber policy wordings and coverage for systemic or supply chain incidents at upcoming renewals, according DAC Beachcroft.

Tomorrow marks the official conclusion of the 2024 Atlantic hurricane season, which ultimately delivered on expectations that it would be “hyperactive”, with a few surprises along the way.

Supply chain risks and exposures in the cyber line of business demand greater attention going forward, according to industry leaders, with the CrowdStrike outage in July acting as a “warning shot” for insurers and the wider real economy alike.

Storm Bert, which hit the UK and Ireland over the weekend, has triggered a 60 percent surge in insurance claims, although its impact is more localised than previous storms, according to claims management provider Sedgwick.