2018’s Natural Disasters Caused $160 Billion in Economic Impacts, According to Global Reinsurer 

According to a report just issued by reinsurance company Munich RE, the natural disasters experienced in 2018 caused approximately $160 billion in economic impacts, surpassing the inflation-adjusted average for the last 30 years ($140 billion). Furthermore, the report found that half of these losses, or $80 billion, were insured, making 2018 the fourth-costliest year since 1980 in terms of insured losses. The costliest natural disasters occurred in the U.S., with the Camp Fire being the single most expensive event both in terms of overall losses and insured losses. Some of 2018’s other costly natural disasters included Hurricane Michael, Hurricane Florence, and the Woolsey Fire. Munich RE’s report includes a series of graphics that depict the economic losses of these events and how they compare to one another. Read the full report at Munch RE.