The US and Australia were the countries that contributed some of the biggest disaster costs. In 2022, Hurricane Ian in the United States and the flooding that struck Australia were among the leading drivers of insurance losses, according to Munich Re. This is contributing to a trend that connected with the intensity and frequency of disasters from climate change. The insurance losses from natural catastrophes last year reached about $120 billion in 2022, which was comparable to 2021, though still fell short of the record-breaking damages that occurred in 2017,…
Read MoreInsurance losses hit $120 billion in 2022 due to hurricanes and flooding
