Aon Affinity Travel Practice’s Post

Great collection of insights and data in Aon's Weather Collection to help inform business decisions, especially for the travel industry, which can acutely feel the impacts of weather and climate change. https://bit.ly/3M6763F #climatechange #weather #insurance #travelinsurance

Why get Travel Insurance? Top reasons why 👇🏼👇🏼👇🏼 👉🏼Flight cancel 👉🏼You need to cancel your trip 👉🏼You miss your connection 👉🏼A hurricane damages your destination 👉🏼You get sick or injured 👉🏼Your baggage is delayed or lost 👉🏼Your passport is lost 👉🏼Emergency evacation #CrystalClearLuxuryTravel

It's winter in the Northern Hemisphere. But snow is MIA – Bloomberg Green observes. This is making nearly everyone unhappy from ski resort managers to schoolkids hoping for a day off. ‘Snow drought' is not just disappointing ski enthusiasts but also sounding alarms for industries and ecosystems dependent on snowfall. Recent studies show that since 1981, nearly half of all river basins have experienced declining snowpacks. The implications are profound – from disrupted winter sports to jeopardized water supplies crucial for agriculture and urban needs. The economic impacts are real and pressing. This shift is prompting product innovation, particularly in the insurance sector. Companies like The Demex Group and Zurich Insurance are now offering parametric snow insurance products for snow-sensitive businesses, a testament to the evolving nature of risk management in the face of climate change. Parametric policies provide payouts based on specific snowfall metrics, offering a financial safety net for businesses affected by the lack of snow. AI and satellite imagery are already playing a pivotal role in tracking these changes, offering invaluable data for practical applications like parametric insurance. The question for us now is: how can we further harness digital technology in the product innovation needed to navigate and mitigate the challenges posed climate change? https://lnkd.in/ddhT3j_F

Zurich Australia recently released a report on the cost of severe weather to Australia's tourism industry, which is a great chance to highlight the potential for businesses to protect themselves through proactive weather intelligence. Check out Early Warning Network’s latest blog, which dives into the growing climate risks facing half of Australia’s tourism assets, from Queensland’s Great Barrier Reef to Tasmania’s national parks. #tourism #weatheruntelligence #climaterisk #severeweather #businesscontinuity #EWN #AustraliaTourism

The Aegis Go Ready's Choice Plan has been selected as one of The Most Economical Travel Insurance Companies for December 2023! What they said: "If you're concerned about covering extra expenses due to trip delays, this plan is your go-to solution. Offering coverage faster than many other plans. It also has a zero-hour waiting period for hurricane and weather coverage." Explore worry-free with the Aegis Go Ready Choice Plan! #TravelInsurance #GoReady #AegisInsurance #CNN

A common question we hear: "When should I buy travel insurance?" It’s a smart idea to purchase travel protection at the time of booking -- especially during hurricane season. https://bit.ly/4akKR3i #travel #travelinsurance #hurricaneseason 

Why Is a Travel Insurance Guide Essential for Trips During Hurricane Season? Unlock Insights Here – Travel And Tour World

Good library of catastrophe and climate data and insights that can help the travel industry be informed and prepared to thrive in the future. https://bit.ly/3M6763F #climatechange #weather #insurance #travelinsurance

Check out this recent Forbes article featuring USTIA on a critical topic: "Does Travel Insurance Cover Bad Weather?" 🌧️🌪️ In the midst of unpredictable weather patterns and an intense hurricane season, this piece explores how travel insurance can protect your travel plans from severe weather disruptions. USTIA President Robert Gallagher emphasizes the importance of understanding your policy to ensure you're adequately covered. Read more here: https://lnkd.in/e7Dp6M55 #TravelInsurance #USTIA #TravelTips

Cyclone #Olga rapidly intensified over the weekend to become a category 4-equivalent cyclone with maximum winds of 138 miles per hour. Fortunately, the storm is on a weakening trend and is expected to remain just far enough offshore of Northwestern #Australia. The main impacts from this storm will be the elevated surf along portions of the coast. #CycloneOlga #cyclones #tropicalcyclones #tropicalcyclone #riskmodeling #hazardmodeling #insurance #reinsurance #emergencymanagement #tropicalweather #weather #climate #climatechange