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Insured Losses from Global Catastrophic Damages Total $34 Billion In U.S Towns

Damages from the Global Catastrophic Events in U.S Towns.
Damages from the Global Catastrophic Events in U.S Towns. (Photo: ABC News)

As global warming increases both the severity and frequency of extreme meteorological events, the very first half of this year brought about $34 billion in insured asserts, an unprecedented level of financial damage.

Damages from the Global Catastrophic events in U.S Towns

Damages from the Global Catastrophic Events in U.S Towns. (Photo: AP News)

Destructive Losses in U.S Towns


According to Swiss Re, the hurricanes and tornadoes in the United States were so destructive that ten resulted in $1 billion or more in damages, nearly double the average recorded over the ten years preceding them, with Texas being the most badly impacted.

In a published article of PBC News Hour, the data for the initial half of the year coincide with an analysis released just recently by another reinsurer, Munich Re, which reported that the cluster of hurricanes that ravaged Texas in June became the nation’s most expensive single occurring in the United States this year. The total amount of property damage from the disasters has been projected to be approximately $8.4 billion.

READ ALSO: Powerful storm kills 2 in eastern U.S., over a million left without power

Thunderstorms in the area!

The rising incidence of severe thunderstorms has triggered issues within the market for insurance, and certain companies are withdrawing from hard-hit jurisdictions including California and Florida.

Convective storms in the United States, which may result in hailstones, lightning strikes, torrential downpours, and gusty winds, are to blame for about 70% of the $50 billion in global devastating losses that have occurred this year, according to the reinsurer.

READ ALSO: As climate change leads to more and wetter storms, cholera cases are on the rise


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