Destroyed houses in the coastal neighborhood of El Muelle after Hurricane Iota made landfall in Bilwi, Nicaragua, on Friday, Nov. 20, 2020. Hurricane Iota slammed into Central America as the Atlantic's strongest storm of the year, bringing catastrophic winds and torrential rain to a region still reeling from a storm two weeks ago. (Photo: Carlos Herrera/Bloomberg) Among the year's worst weather events, Hurricane Iota devastated Central America in November as the Atlantic's strongest storm of the year, bringing catastrophic winds and torrential rain to a region recovering from a storm that hit just two weeks prior. (Photo: Carlos Herrera/Bloomberg)

Insured losses from natural catastrophes and man-made disasters in 2020 totaled $83 billion, Swiss Re reports. Losses from natural disasters accounted for over 90% of the total, racking up $76 billion in insured losses globally — a 40% increase from the year prior.

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