|
The
damage, tallied by the German reinsurer Munich Re, increased
from $166 billion in the previous year, and comes as a warming
planet heightens risks.
Losses that were insured rose to $82 billion from $57 billion in
2019, Munich Re said. They add to the burden of the coronavirus
pandemic that has hit the insurance industry hard.
"Climate change will play an increasing role in all of these
hazards," said Munich Re board member Torsten Jeworrek, pointing
to hurricanes, wildfires and other storms.
"It is time to act," he said.
The hurricane season was "hyperactive", with a record 30 storms,
surpassing 2005's 28 storms, Munich Re said.
Heat waves and droughts are fuelling wildfires, with $16 billion
in damage last year in the U.S. West.
Floods in China were the most costly individual loss at $17
billion, but only 2% of the damage was insured.
(Reporting by Tom Sims; editing by Thomas Seythal)
[© 2021 Thomson Reuters. All rights
reserved.] Copyright 2021 Reuters. All rights reserved. This material may not be published,
broadcast, rewritten or redistributed.
Thompson Reuters is solely responsible for this content.
|
|
