The Massive Cost Of Disasters

Natural and man-made disasters caused $165 billion of economic losses worldwide last year according to estimates from insurance giant Swiss Re. At least $85 billion of those losses were covered by insurance companies. The losses from natural catasrophes in 2017 and 2018 combined were the highest ever over a two year period.

Camp Fire in California in November was the world's costliest event of last year, resulting in $12 billion of insured losses. It was followed by Hurricane Michael in the U.S. and Typhoon Jebi in Japan. Globally, more than 13,500 people died or went missing in disaster events in 2018, one of the lowest totals in a single year.