With the climate wall, the natural disasters are increasing. Globally, the year that is coming to an end could be the most expensive for insurers on record.
Devastating storms in the US and floods in Europe make 2021 one of the most expensive natural disaster years, according to a study.
The insured losses from natural disasters worldwide already totaled 105 billion US dollars (93 billion euros), announced the Swiss reinsurer Swiss Re on Tuesday based on preliminary estimates. This is 17 percent more than in 2020, and it is the fourth highest value since records began in 1970.
The most expensive event was by far Hurricane Ida in the USA: According to Swiss Re, the destruction is likely to cost the insurance industry 30 to 32 billion dollars – among other things as a result of the floods in New York. The consequences of winter storm “Uri” with extreme cold, snowfall and the failure of the power grid would cost the insurers 15 billion dollars.
In Europe, the flood disaster in Germany and neighboring countries hit insurers with up to 13 billion dollars, according to the study. The economic damage of the event in July would be more than three times as high at over 40 billion. “The floods were the most expensive natural disaster in the region since 1970 and the second costliest in the world, after the floods in Thailand in 2011,” it said.
Accordingly, the insured natural catastrophe losses worldwide were once again above the average for the past ten years. The trend of an annual increase in damage of 5 to 6 percent, which has been observed for decades, is thus continuing.
Including uninsured losses, the economic impact of natural disasters added up to $ 250 billion that year, according to the study, almost a quarter more than in 2020. Combined with man-made disasters, it was $ 259 billion, an increase of 20 percent . The consequences of the corona pandemic are not included in the calculations.
Source From: Stern
Jane Stock is a technology author, who has written for 24 Hours World. She writes about the latest in technology news and trends, and is always on the lookout for new and innovative ways to improve his audience’s experience.
