The world’s largest insurers are tallying the costs of climate inaction, and the numbers are staggering.
Swiss Re announced recently that total economic losses in 2012 from “natural catastrophes and man-made disasters” – primarily weather events – should reach roughly $140 billion. Over 11,000 lives were lost due to the so-called “natural catastrophes” alone.
According to the Swiss Re report, “Natural and man-made catastrophes in 2012,” the top five insured loss events are all in the U.S.
“Hurricane Sandy is the largest Atlantic hurricane on record in terms of wind span. This record storm surge caused widespread flooding and damage to a densely populated area on the East Coast of the U.S. It also led to the worst power outage caused by a natural catastrophe in the history of the U.S.”