insurance – Desdemona Despair

Map showing natural catastrophe loss event worldwide in 2021. In 2021, natural disasters caused overall losses of $280 billion, of which roughly $120 billion were insured. Alongside 2005 and 2011, the year 2021 proved to be the second-costliest ever for the insurance sector (record year 2017: $146 billion, inflation-adjusted) – overall losses from natural disasters were the fourth-highest to date (record year 2011: $355 billion). Graphic: Munich Re

January 13, 2022

For the insurance industry, 2021 was the second-highest loss year on record, after 2017 – “The 2021 disaster statistics are striking because some of the extreme weather events are of the kind that are likely to become more frequent or more severe as a result of climate change”

10 January 2022 (Munich Re) – Worldwide, natural disasters caused substantially higher losses in 2021 than in the two previous years. Based on provisional data, storms, floods, wildfires, and earthquakes destroyed assets worth US$ 280bn. Losses in the previous year amounted to US$ 210bn, while in 2019 they were US$ 166bn. Roughly US$ 120bn of […]

Results from the WEF Global Risks Perception Survey 2020. The Global Risks Network chart shows how respondents rank the most concerning risks globally and their drivers. Data: World Economic Forum Global Risks Perception Survey 2020 / The Global Risks Report 2021. Graphic: WEF

February 28, 2021

WEF Global Risks Report 2021: Risk landscape dominated by pandemic and climate change – “Ignoring risks doesn’t make them go away”

By Colleen Zitt 3 February 2021 (Zurich) – As Chief Risk Officer for Zurich North America, I eagerly await the annual release of the World Economic Forum’s (WEF) Global Risks Report. This year’s 2021 edition is no exception. Its thoughtful, laser-sharp analysis of short- and long-term global risks — dominated by the COVID-19 pandemic and climate change — […]

Worldwide natural catastrophe loss events in 2019. Tropical cyclones, extreme storms, and floods caused overall losses of $150 billion. Video: Munich RE

January 11, 2020

Tropical cyclones causing billions in losses dominated the natural catastrophe picture of 2019 – “Cyclones are becoming more frequently associated with extreme precipitation”

8 January 2020 (Munich RE) – 820 natural catastrophes caused overall losses of US$ 150bn, which is broadly in line with the inflation-adjusted average of the past 30 years. A smaller portion of losses was insured compared with 2018: about US$ 52bn. This was due, among other things, to the high share of flood losses, which are […]