(Reuters) – Natural disasters around the world resulted in $ 210 billion in damage by 2020, with the United States particularly hard hit by hurricanes and fires, a top reinsurer said Thursday.
The damages, calculated by the German reinsurer München Re, increased from $ 166 billion the year before and come when a warming planet increases the risks.
Insured losses increased to $ 82 billion from $ 57 billion in 2019, Munich Re said. They increase the burden of the coronavirus pandemic, which has hit the insurance industry hard.
"Climate change will play an increasing role in all these dangers," said Munich board member Re Torsten Jeworrek, pointing to hurricanes, fires and other storms.
"It's time to act," he said.
The hurricane season was "hyperactive", with a record 30 storms and exceeded 2005's 28 storms, said Munich Re.
Heat waves and droughts are burning forest fires, with $ 1
Floods in China were the most expensive individual loss of $ 17 billion, but only 2% of the damage was insured.