Record heat has exposed Europe’s growing vulnerability, according to a new report from Aon focusing on 2026 natural catastrophe (nat cat) losses.
In the report, Aon said that global insured losses from natural disasters reached an estimated $91 billion during the first nine months of 2026.
The total was slightly above the 21st-century average of $88 billion, but was the lowest for the period since 2019 and remained well below the $135 billion average of the past five years.
However, the effects of the heat and drought could be wide-ranging, including effects on inflation and interest rates.
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