Annual Weather, Climate and Catastrophe Insight report reveals $313 billion global economic loss from natural catastrophes. Prominence of droughts and heatwaves highlighted growing importance of these perils in a warming world.
Ceres released a new report that finds U.S. climate-related disaster insurance is often inaccessible, unaffordable, or does not meet the needs of certain populations.
California has nearly seen the last of the relentless sequence of storms that inundated the state since late December, leading to tens of thousands of evacuations, at least 20 deaths, and an estimated $1 billion in damages.
The disastrous floods in Guangdong, Guangxi and Fujian provinces caused US$5 billion of losses, but only US$300 million or 6 per cent was insured, the 2022 MunichRe report showed.
With overall losses of around US$ 270bn (previous year US$ 320bn) and insured losses of roughly US$ 120bn (previous year US$ 120bn), 2022 joins the recent run of years with high losses.
The ISF supports the development of innovative and sustainable climate risk insurance products in countries of Latin America, Africa and Asia eligible to receive official development assistance (ODA).
The first European dashboard depicts the insurance protection gap for catastrophes. The aim of the dashboard is to present the drivers of a climate-related insurance protection gap.
European insurance and occupational pensions authority
