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"Many global communities are exposed to increasingly volatile weather conditions that are in part enhanced by the growing effects of climate change. This includes record-setting episodes of extreme temperatures, rainfall and flooding, droughts and wildfires, rapidly intensifying tropical cyclones and late-season severe convective storms," said Steve Bowen, meteorologist and head of catastrophe insight at Aon. (Credit: David Zalubowski/AP) “Many global communities are exposed to increasingly volatile weather conditions that are in part enhanced by the growing effects of climate change. This includes record-setting episodes of extreme temperatures, rainfall and flooding, droughts and wildfires, rapidly intensifying tropical cyclones and late-season severe convective storms,” said Steve Bowen, meteorologist and head of catastrophe insight at Aon. (Credit: David Zalubowski/AP)

Slightly more than 400 notable natural disaster events were recorded in 2021, down from 416 in 2020, according to Aon plc. However, the expense and severity of the events during the past year resulted in $343 billion in economic losses, compared with $329 billion the year prior.

As a result, 2021 ranked as the third costliest year on record (adjusted for inflation) for economic loss due to natural catastrophes, the insurer reported.

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Steve Hallo

Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected].  

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