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Below-Average U.S. Losses Lead Relatively Mild Year for Catastrophes

Worldwide insured losses came to $31 billion, with the United States leading the pack even though U.S. losses were far below the 2000-to-2012 average of $29.4 billion.

By Bonnie Cavanaugh | Updated on January 07, 2014

The year 2013 was not a good example of natural catastrophes caused by climate change, as the extreme weather events that did occur in this rather mild year—such as high-temperature spikes and record precipitation in the Northern Hemisphere—could have happened without climate change, according to Peter Hoppe, head of geo risks research/corporate climate center at Munich Re.

Hoppe’s comment came in response to queries during Munich Re’s webinar, 2013 Natural Catastrophe Year in Review, presented jointly with the Insurance Information Institute. He further says that the company’s view of climate change—it has indeed been caused by a rise in greenhouse gasses over the past 10 years—is based on its own research and that of the Intergovernmental Panel on Climate Change (IPCC), in its September 2013 assessment report.

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