Magazine date:
Jan 2019 According to Munich Re figures, the cost of global natural disasters in 2018 [4] amounted to 160 billion USD. Half of these losses are insured. This figure is decreasing compared to the 350 billion recorded in 2017. Nevertheless, it remains above the average of the last thirty years, estimated at 140 billion USD.
It should be noted that the fires that raged across California in November 2018 caused 24 billion USD of damage. Both Hurricanes Florence and Michael, meanwhile, triggered 30 billion USD of losses.
Still according to the report of the German reinsurer, natural disasters claimed the lives of 10 400 people in 2018. This figure is declining in comparison with the annual average of the last 30 years, estimated at 53 000 casualties.