Five-Fold Rise in Weather Disasters in Last 30 Years.

From Bloomberg News, Oct. 17. North America Has Biggest Rise in Weather Catastrophes

Climate change contributed to a fivefold increase weather-related natural disasters in North America over the past three decades, according to Munich Re, the world’s biggest reinsurer.

“Nowhere in the world is the rising number of natural catastrophes more evident than in North America,” Peter Hoeppe, head of Munich Re’s Geo Risks Research unit, told reporters in Munich today. There was a four-fold gain in disasters in Asia, while the number doubled in Europe, the reinsurer said.

In a related article, insurance and reinsurance are  likely to cost more.

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2 Responses to Five-Fold Rise in Weather Disasters in Last 30 Years.

  1. John Plodinec says:

    This report is an embarrassment. How do you decouple the impacts of the net inmigration of people in hazardous areas over the last 30 years from the purported effects of climate change when we don’t even know what those effects are? Note – I’m not arguing for or against either side in the climate change debate, just observing that we don’t know what the impacts are/will be (See, for example, Judith Curry’s excellent Climate, etc. blog site). The old research indicating more frequent storms has been refuted and shown incorrect (and let’s not forget for a moment the fact that we’ve actually seen no increase in the number of hurricanes that actually have hit land). We have seen huge increases in storm losses but those have been entirely due to the greater number of people and the greater amount of property in risky places, i.e., no more storms but lots more damage.

  2. The Property/Casualty business is in a long-term process to withdraw coverages for natural disasters. A tightening of the NFIP to match original program intent and statutory design will accelerate that trend. Thus more of a financial burden will be placed on the federal fisc through the casualty loss provisions of the IRC. Now uninsured losses exceeding 10% of AGI may be deducted from the federal and state income taxes.

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