Tags: Climate Change | Global Warming | Hurricane Matthew | natural | disasters | damage | 2016

CNN: Natural Disasters Caused $175B in Damage in 2016

Image: CNN: Natural Disasters Caused $175B in Damage in 2016

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By    |   Wednesday, 04 Jan 2017 01:46 PM

Natural disasters across the globe caused $175 billion in damages in 2016, CNN Money reported, the most in four years.

Although the global cost was the highest it has been in four years, less than one-third of the losses were insured, according to German reinsurance firm Munich Re.

The most expensive disasters occurred in Asia, where two earthquakes in Japan caused $31 billion in damages, and flooding in China caused $20 billion over the summer.

North America's costliest disaster, at $10 billion, was Hurricane Matthew, which killed hundreds in Haiti.

"There are now many indications that certain events – such as persistent weather systems or storms bringing torrential rain and hail – are more likely to occur in certain regions as a result of climate change," Peter Höppe, head of Munich Re's Geo Risks Research Unit, told CNN.

Munich Re board member Torsten Jeworrek told The Guardian last year's losses were "mid-range" after three relatively inexpensive years, and "losses in a single year are obviously random and cannot be seen as a trend."

He added "the high percentage of uninsured losses, especially in emerging markets and developing countries, remains a concern."

Despite the high costs, The Seattle Times reported the number of people killed by natural disasters was 8,700, far below the 25,400 killed the year before.

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Natural disasters across the globe caused $175 billion in damages in 2016, CNN Money reported, the most in four years.
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2017-46-04
Wednesday, 04 Jan 2017 01:46 PM
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