Severe convective storms (SCS) have surpassed tropical cyclones to become the costliest insured peril of the 21st century, according to Aon plc.Total economic losses reached $260 billion — 23% below the 21st-century average and the lowest since 2015, said Aon’s 2026 Climate and Catastrophe Insight report. (Economic losses include insured loss claims). “Yet beneath this quieter surface, the year told a very different story,” Aon cautioned. “Insured losses reached $127 billion, 27% above the long-term average ...