Earth Day: An annual call to action for the insurance industry
Scientists have built consensus around the probability that more powerful floods, fires, droughts and storms will occur with higher frequency as the Earth gets hotter.
A new report from Aon calculates the economic cost of natural catastrophes globally in 2020. Global economic losses from 416 natural catastrophe events resulted in $268 billion in economic losses. Of that total, the U.S. accounts for $119 billion.
2020′s $268 billion bill is 8% above the average annual losses for this century, driven by a changing climate, more people moving into hazard-prone areas and an increase in global wealth, Aon researchers note.
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