Last decade was the most expensive for natural disasters, over $1 trillion increase, report says

Thursday, January 23, 2020 | Tag Cloud Tags: , , , ,

(Worthy News) – Severe weather such as devastating flooding and powerful hurricanes contributed to why the last decade was the worst on record for economic losses due to around the globe, according to a report released Wednesday.

Insurance broker Aon said in its “Weather, Climate & Catastrophe Insight: 2019 Annual Report” that the period between 2010 and 2019 marked the costliest decade on record, with economic damage reaching some $2.98 trillion, about $1.19 trillion more than the period from 2000 to 2009.

“Perhaps the biggest takeaway from the last decade of natural disasters was the emergence of previously considered ‘secondary’ perils – such as wildfire, flood, and drought – becoming much more costly and impactful,” Steve Bowen, director and meteorologist at Aon’s impact forecasting team, said in a release. [ Source: Fox News (Read More…) ]

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