tutor2u | Global natural disaster costs more than double to $136bn

In the News

Global natural disaster costs more than double to $136bn

Geoff Riley

20th December 2017

The reinsurance company Swiss Re estimates that natural and manmade disasters created $136bn of insured losses in 2017, double the 2016 figure and well above the 10 year average of $58bn.

For example, after 12 years with no major #hurricanes making US landfall, Hurricane Harvey, Hurricane Irma and Hurricane Maria have made 2017 the second costliest hurricane season on sigma records after 2005.

Disaster events claimed more than 11 000 victims in 2017.

According to the World Bank, there are around 4-times as many natural disasters (when 10+ people are killed or 100+ affected) today than there were in the 1960s. 

The 10 most significant natural disasters worldwide by death toll from 1980 to 2016

Geoff Riley

Geoff Riley FRSA has been teaching Economics for over thirty years. He has over twenty years experience as Head of Economics at leading schools. He writes extensively and is a contributor and presenter on CPD conferences in the UK and overseas.

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