Chicago, U.S.A - Aon Benfield, the global reinsurance intermediary and capital advisor of Aon plc, has released the latest edition of its Global Catastrophe Recap report, which reviews the natural disaster perils that occurred worldwide during May.

Published by Impact Forecasting, the firm’s catastrophe model development center of excellence, the report reveals that two earthquakes and subsequent aftershocks struck northern Italy within a nine-day period, killing 25 people, injuring more than 400 others and causing extensive damage to the cultural heritage throughout the Emilia-Romagna region of Italy, in addition to businesses and personal property.

An initial, combined economic loss estimate from both tremors stood at EUR5 billion (USD6.25 billion), following significant damage in the provinces of Modena, Ferrara, Reggio Emilia, Rovigo and Mantua.

In Asia, severe and prolonged periods of rain impacted China throughout the month, affecting at least 22 provinces and killing at least 102 people.

According to China’s Ministry of Civil Affairs (MCA), at least 143,000 homes were damaged or destroyed during one prolonged event. More than 949,400 hectares (2.34 million acres) of cropland were also affected, contributing to a total economic loss listed at CNY16.88 billion (USD2.68 billion).

Meanwhile, powerful thunderstorms struck eastern Japan, resulting in high winds and tornadoes that killed at least three people, injured 59 others, and damaged more than 1,845 buildings in six separate prefectures.

Steve Jakubowski, President of Impact Forecasting, said: “The Italian earthquakes resulted in the largest natural disaster loss for the country since the L’Aquila earthquake event in 2009. The seismic activity was not unexpected, as Italy has long been recognised as a region exposed to the possibility of significant earthquake activity. Given the level of insurance coverage in the region, it is anticipated that insured losses would reach minimally into the hundreds of millions of dollars (USD). However, it remains too early to determine how negligible re/insurance losses may be from this event.”

In the United States, two periods of severe weather impacted central and eastern sections of the country; the first causing widespread hail and wind damage from the Dakotas to Maryland, resulting in an economic loss estimated at USD275 million, and more than 30,000 insurance claims valued atUSD150 million. A secondary severe weather outbreak across the central and eastern U.S. at the end of the month spawned significant damage as well. According to a preliminary report from the South-western Insurance Information Service, insured losses in Oklahoma alone were estimated at USD400 million.

Tropical Storm Beryl made landfall near Jacksonville Beach, Florida at peak intensity with 70 mph (110 kph) winds but did not cause any significant damage, injuries or fatalities.

And wildfires burned in several U.S. states during the month, including the largest fire ever recorded in New Mexico.

Excessive rainfall affected areas of the Canadian provinces of Ontario and Quebec in May. In Thunder Bay, at least 1,100 homes were damaged as well as businesses and infrastructure, and flood damage with a 100-year return period was recorded in Montreal, where personal property and infrastructure were widely affected.

Additional flood events were recorded in Nepal, Afghanistan, Indonesia, Nicaragua, Cuba, Georgia, Brazil and Venezuela.

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Washington, U.S.A - International agency Oxfam warned that the announcement of the “New Alliance to Increase Food and Nutrition Security” focuses too heavily on the role of the private sector to tackle the complex challenges of food insecurity in the developing world. The organization called instead for G8 leaders to keep the promises they have already made to help developing countries invest in sustainable solutions to hunger and poverty.

“The New Alliance is neither new nor a true alliance,” said Oxfam’s Lamine Ndiaye. “The rhetoric invokes small-scale producers, particularly women, but the plan must do more to bring them to the table.” Smallholder farmers, many of whom are women, make up the majority of hungry people in poor countries and are key agents of change in their communities.

Three years ago, at the G8 Summit in L’Aquila, Italy, and President Obama rallied the leaders of the world’s richest countries to pledge $22 billion to poor countries that had good plans to tackle hunger. Seven months away from the end of the L’Aquila initiative, dozens of poor countries have lived up to their end of the bargain, but the G8 is falling down on the job.

“President Obama deserves credit for focusing the G8′s attention on the fact that one billion people go to bed hungry every night,” said Oxfam’s Gregory Adams. “We applaud the clear focus on the target of helping 50 million people escape hunger and poverty through agriculture.”

“G8 leaders should join President Obama to commit resources to help developing countries reach this ambitious goal. The pledge to find $1.2 billion for the trust fund to support country agriculture plans is a good start. But the G8 should recommit to the partnership they began at L’Aquila and maintain that level of investments. Otherwise, they’ll be offering a shrinking solution to a growing problem.”

The alliance includes 45 companies from around the world, representing what G8 leaders hope will be the missing link to achieve transformational development in poor countries. While there is a positive role for the private sector in the fight against global hunger, the plan’s top down approach does not reflect what many people in poor countries say they want or need. The average private sector role in existing country food security plans, the basis for the L’Aquila agreement, is about 5%, and most have no role at all.

“This new alliance – is a nice complement at best, a deflection at worst. The role of the private sector is important, but they will not be able to make up for the G8′s broken promises,” said Ndiaye. “Smallholder farmers need the freedom to pursue their own growing strategies, not take overly-prescriptive tips on farming from G8 leaders, or one size fits all technologies from far away CEOs.”

A number of African civil society leaders and groups publicly raised concerns about the path the G8 is taking on food security in an open a letter to the G8 and a declaration signed at a Committee on World Food Security Consultation for African civil society groups in April of 2012.

“Having been developed without African civil society, it’s unclear what role they will play in its execution,” said Ndiaye.

The plan mentions but must do more to address the growing threats of climate change and natural resource constraints. And while the G8′s initiative endorses the United Nations Voluntary Guidelines on Land Tenure, an important step forward in preventing land grabs, they make a misstep in also legitimizing a weaker World Bank standard.

“Unless the G8 reaffirms and continues its L’Aquila pledges, they are passing the buck on global hunger,” said Adams. “The private sector, especially local small and medium enterprises, can play an important role in tackling food security, but G8 leaders have to first deliver on their end of the deal.”

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