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An uptick in costly natural disasters creates a complex landscape for insurance agents to navigate as insureds continue to live in and purchase properties in areas that have a high potential for loss. (Photo: Shutterstock) An uptick in costly natural disasters creates a complex landscape for insurance agents to navigate as insureds continue to live in and purchase properties in areas that have a high potential for loss. (Photo: Shutterstock)

Natural disasters are becoming more difficult to anticipate as deviations from typical weather patterns and more extreme events are emerging. Once considered low-probability/high-cost events, they are now increasing in both frequency and intensity.

In 2021, natural disasters caused more than $343 billion in economic damage globally, according to Aon’s 2021 Weather, Climate and Catastrophe Insight report. Among 2021’s notable weather events, Hurricane Ida took its place as the fifth costliest hurricane on record with $75 billion in estimated damages.

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