Aon has launched a climate risk advisory team to provide physical risk diagnostics and advisory services to financial institutions, public sector entities and firms. The new team will combine catastrophe and climate change models from Aon’s impact forecasting and third-party vendors, as well as analytics from across Aon’s capital, climate and credit specialties. The team will be led by Liz Henderson, who was previously co-head of Aon’s Reinsurance Solutions’ US catastrophe management team. Henderson will report to Joe Monaghan, growth leader of Aon’s Reinsurance Solutions. The new advisory team will help its clients quantify risks through forward-looking diagnostics. The diagnostics will apply individual asset locations to help firms understand key geographies at risk. Aon says ‘as climate change drives new extreme weather records, organisations need to better quantify the impact of climate risk.’ In 2022, more than 400 natural catastrophes caused US$313 billion worth of damage worldwide. Monaghan comments: “Through launching Climate Risk Advisory, Aon recognises how financial institutions may benefit greatly from the catastrophe and climate expertise, modelling and solutions we have developed and honed over several decades for the reinsurance sectors.”
