Extreme weather means extreme insurance costs in 2019

Climate Economy

Extreme weather means extreme insurance costs in 2019

Bigger storms mean bigger tolls on insurers--and higher premiums for the rest of us Weather-related incidents drove virtually all of the insured natural disaster losses in 2019. Estimated direct economic losses and damage from natural disasters in 2019 are at $232 billion, according to new research from Aon, a leading global reinsurer. Weather-related losses worldwide totaled $229 billion, which is 17 percent higher than the 21st Century average. Global thunderstorm-related damage alone topped $30 billion in 2019 for the tenth consecutive year. The costliest individual peril was inland flooding at…

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