January floods hit Australia and Indonesia for six billion dollars, according to Impact Forecasting catastrophe report

Thu Feb 7, 2013 12:19pm EST

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CHICAGO,  Feb. 7, 2013  /PRNewswire/ -- Impact Forecasting, the catastrophe
model development center of excellence at Aon Benfield, today releases the
latest edition of its monthly Global Catastrophe Recap report, which reviews the
natural disaster perils that occurred worldwide during  January 2013.  Aon
Benfield  is the global reinsurance intermediary and capital advisor of Aon plc

(Logo:  http://photos.prnewswire.com/prnh/20100719/AQ37264LOGO)  

The report reveals that torrential monsoonal rains prompted severe flooding
throughout the Indonesian capital of  Jakarta, killing at least 41 people.
Government officials forecast total economic losses of  IDR32 trillion  (USD3.31
billion), and insured losses above  IDR3 trillion  (USD311 million). According
to the National Agency for Disaster Management (BNPB), at least 100,274 homes
were damaged or destroyed.

The Australian states of  Queensland  and  New South Wales  were also impacted
by catastrophic flooding during the month, killing at least six people. The
Insurance Council of  Australia  cited insured losses above AUD300 million
(USD313 million), with more than 27,800 insurance claims filed by  January 31.
Total economic losses in  Queensland  alone were estimated at AUD2.4 billion
(USD2.5 billion), with the most significant damage recorded in the  Queensland 
city of Bundaberg, where more than 2,500 properties were inundated.  

In  Southern Africa, record rainfall prompted major flooding in at least five
countries, killing more than 100 people. In  Mozambique, at least 150,000 people
were displaced along the Limpopo and Zambezi river basins, prompting a United
Nations request for  USD65 million  for disaster relief and recovery. Additional
flooding occurred in  Zimbabwe,  Botswana,  South Africa  and  Kenya.

Meanwhile, flood damage and fatalities occurred in  Brazil,  Ecuador,  Turkey, 
China,  Philippines, and  Sri Lanka  during January.

For further analysis of global insured and economic flood losses over the past
decade, visit Catastrophe Insight at  www.aonbenfield.com/catastropheinsight.

Steve Jakubowski, President of Impact Forecasting, said: "As our January
catastrophe report highlights, the potential for excessive rainfall and
resultant flooding is a major challenge for countries across the world, and yet
it is still one of the lesser modeled perils on a global basis. Impact
Forecasting continues to work towards building a comprehensive flood modeling
suite that addresses the flood peril. As part of this work, in 2012 we launched
our Thai flood model, which has assisted the Thai market to better prepare for a
potential reoccurrence of the devastating flood event that impacted the country
in 2011."

Elsewhere in January, a strong  United States  storm system comprising at least
50 tornadoes -tying 2008 in becoming the second-largest January outbreak since
1950 - spawned widespread severe weather across central and eastern sections of
the country, killing at least three people. The Georgia Department of Insurance
estimated insured losses of  USD75 million, while total economic losses were
forecast at hundreds of millions of dollars (USD). The most significant damage
occurred in  Georgia's  Bartow  and  Gordon  counties, where an EF-3 tornado
damaged or destroyed 363 homes and 100 vehicles.  

Meanwhile, the strongest winter storm in more than a decade brought heavy rain,
snow, hail, and damaging winds across much of the  Middle East, killing at least
11 people.  Israel  was most heavily impacted, with total economic losses listed
at  NIS1.3 billion  (USD345 million, after flooding from overflowing rivers
inundated neighborhoods, businesses and infrastructure in low-lying areas. The
storm also severely affected parts of  Jordan,  Lebanon,  Syria, and the
Palestinian Territories.

Weeks of very cold temperatures killed at least 329 people in  India, 
Bangladesh  and  Nepal, and wintry conditions also led to damage and travel
delays in  Europe  and the U.S.

Record heat, very dry conditions and gusty winds led to hundreds of wildfires
across the Australian states of  Tasmania,  New South Wales  and  Victoria,
killing one firefighter.  Tasmania  endured most of the damage, with150 homes
were damaged or destroyed, and 1,783 insurance claims filed amid total insured
losses of AUD86.7 million (USD90 million). Losses in  Victoria  were listed at
AUD9 million (USD9.5 million).

Minor earthquake events occurred in  Kazakhstan,  China,  Indonesia  and  Chile.

To view the full Impact Forecasting  January 2013  Global Catastrophe Recap
report, please follow the link below:


To access the Catastrophe Insight website, please visit:


About Aon Benfield

As a recognized leader in treaty, facultative and capital markets, Aon Benfield
is redefining the role of the reinsurance intermediary and capital advisor.
Through our notable expertise and industry-leading proprietary tools and
products, we help our clients to redefine success. Aon Benfield offers unbiased
capital advice and customized access to reinsurance and capital markets. As a
trusted advocate, we provide local reach to the world's markets, an investment
in innovative analytics, including catastrophe management, actuarial, and rating
agency advisory, and the right professionals to advise clients in making the
optimal capital choice for their business. With an international network of more
than 80 offices in 50 countries, our worldwide client base is able to access a
broad portfolio of integrated capital solutions and services. Learn more at 

About Impact Forecasting LLC

Impact Forecasting is a catastrophe modeling center of excellence whose
seismologists, meteorologists, engineers, mathematicians, finance risk
management and insurance professionals analyze the financial implications of
natural and man-made catastrophes around the world.  Impact Forecasting's
experts develop software tools and models that help clients understand risks
from hurricanes, tornadoes, earthquakes, wildfires and terrorist attacks on
property, casualty and crop insurers and reinsurers.  To find out more about
Impact Forecasting LLC, visit  www.impactforecasting.com.

 Media Contacts:                                                                                  
 David Bogg                    Andrew Wragg                    Alexandra Lewis                    
 Aon Benfield                  Aon Benfield                    Aon Benfield                       
 t:  +44 (0)20 7522 4016       t:  +44 (0)20 7522 8183         t:  +44 (0)20 7882 0541            
 e:david.bogg@aonbenfield.com  e:andrew.wragg@aonbenfield.com  e:alexandra.lewis@aonbenfield.com  

SOURCE  Aon plc

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