In 2022 the cost of natural catastrophes was 275,000 million dollars

A report by reinsurer Swiss Re noted that by 2022 the cost for natural catastrophes was 275,000 million dollars. Likewise, 45% of the damage caused by natural disasters was covered by insurance.

In this sense, the study highlighted that the most expensive events were the Hurricane Ian in Florida (United States), the hail in France, the floods in Australia and South Africawinter storms in Europe and the United States and droughts in China, America and Europe.

The study claims that 2022 was the second consecutive year where losses from natural disasters exceeded $100 billion. The increased impact is due to vulnerability to current inflation, Swiss Re’s Head of Catastrophic Risk, Martin Bertogg, confirmed.

Insurance that covered catastrophes

Property catastrophe reinsurance rates have risen sharply since 2018. Experts say costs will rise due to inflationary pressure and the natural catastrophe situation.

The most expensive claim in 2022 was the hurricane Ian, after him comes Katrina, the second most expensive catastrophe in terms of insured losses. In February 2022, storms in northwestern Europe caused $4,000 in losses. In France, the largest annual hail loss was recorded, which had losses of a value of 5,000 million dollars.


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