Last decade was the most expensive for natural disasters, over $1 trillion increase, report says
(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 natural disasters 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 news release. [ Source: Fox News (Read More…) ]