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Richard Dudley, global head of climate strategy at Aon, says existing products such as IP coverage can help insurers take a leading role in opening up investment for new climate transition technology.
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A steady stream of legal actions are being filed against insurers over billions of dollars’ worth of stranded aircraft.
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The CEO emphasized that the estimate is a modeled estimate and does not include litigation or inflationary pressures.
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The modeller also said that losses to the National Flood Insurance Program will likely remain under $300mn.
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The lessor is looking to recoup $750mn from its war insurers or over $875mn from its all-risk insurers, in the event that its war claim fails.
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The new loss pick takes into account litigation and inflation costs, as well as claims activity to date.
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In its annual report published earlier this year, BOC revealed it was pursuing a claim for aircraft worth $589mn stranded in Russia.
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The central-west region of the state was struck by severe flooding over the weekend.
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The amount Aircastle is looking for in the suit is, however, lower than the $350mn insurance claim that for equipment stranded in Russia.
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Expanded state reinsurance support and legal reforms will be top priorities as Florida insurers face another retention loss.
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The programme has paid out $437mn to policyholders so far.
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According to the latest reports, around 110,000 customers have been left without power in Florida as Nicole makes its way across the state.