Global natural catastrophes in 2017 caused $353 billion in economic losses, with losses covered by private and public insurers eclipsing $130 billion.
According to Aon Benfield’s Weather, Climate & Catastrophe Insight annual report, the $134 billion in insured losses from natural catastrophes in 2017 was just behind the record $137 billion paid by insurers as a result of events in 2011, and only the third time insured losses from natural catastrophes were more than $100 billion.
Thirty-one events around the world—16 in the US—resulted in at least $1 billion in losses last year.
Read more at https://www.advisenltd.com/2018/01/25/insurers-covered-record-132-billion-weather-related-damage-2017/
Chad Hemenway, Insurers covered record $132 billion in weather-related damage in 2017 (January 25, 2018).
This story in an excerpt of the original. The content originally appeared in Advisen Professional Front Page News.
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