Disasters

Extreme weather catastrophes linked to climate change have made 2021 the second-most costly year on record for global insurance firms.
From the devastating destruction caused by Hurricane Ida in the United States to a relentless summer of flash flooding across Europe, 2021 has gone down in history as one of the most expensive years for natural disasters worldwide.

Globally, the total cost of all disasters last year was $280 billion, the fourth-highest on record, according to the world’s largest reinsurer Munich Re.

Insurance covered 42.8 percent of the damages, raking up a total $120 billion in losses for companies worldwide.

This figure was second only to 2017, which saw a record of $146 billion insured losses from disasters, such as hurricanes Harvey, Irma and Maria.

Each of last year’s top ten most expensive catastrophes cost over $1.5 billion in insured losses, with Hurricane Ida in first place at $65 billion, according to new findings by Christian Aid.

Dr. Kat Kramer, Christian Aid’s climate policy lead, told TRT World the costs of climate change have been grave this year both financially and in “the death and displacement of people around the world.”

“Be it storms and floods in some of the world’s richest countries or droughts and heatwaves in some of the poorest, the climate crisis hit hard in 2021,” said Kramer.

“While it was good to see some progress made at the COP26 summit, it is clear that the world is not on track to ensure a safe and prosperous world.”

So what were the ten worst disasters this year?

Natural Disasters cost us $280 Billion in 2021:

https://www.trtworld.com/magazine/the-top-ten-most-costly-natural-disasters-in-2021-53584