Thomas Frank of E&E News reports that global weather disasters cost $101 billion in 2021.
- Global reinsurance company Swiss Re has estimated that insured losses from weather disasters cost $101 billion in 2021, with the majority of losses occurring in the United States.
- This report highlights the need to invest in infrastructure and adopt insurance policies that accurately reflect climate risk to allow for people to truly consider the probability of extreme weather events occurring before building in high-risk areas.
- Through targeted investments in infrastructure and more market-assessed insurance premiums, we can reduce the risks of natural disasters.
Read the full article here.