The estimated total economic losses from natural catastrophes and man-made disasters was $158 billion in 2016 — up from $94 billion in 2015 — according to estimates released by Zurich, Switzerland-based insurer Swiss Re.
At the same time, losses resulting from man-made disasters fell to $7 billion from $9 billion in 2015. Globally, there were approximately 10,000 victims in disaster events in 2016.
The causes of 2016's biggest losses were earthquakes, hail, thunderstorms and Hurricane Matthew.
For more information, read the infographic on last year's disaster costs, based off of information from Swiss Re.
(Click image to expand.)
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Shawn Moynihan
Shawn Moynihan is Editor-in-Chief of National Underwriter Property & Casualty. A St. John’s University alum, Moynihan has earned 11 Jesse H. Neal Awards, the Pulitzers of the business press; seven Azbee Awards, from the American Society of Business Press Editors; two Folio Awards; and a SABEW award, from the Society of American Business Editors & Writers. Prior to joining ALM, he served as Managing Editor/Online Editor of journalism institution Editor & Publisher, the trade bible of the newspaper industry. Moynihan also has held editorial positions with AOL, Metro New York, and Newhouse Newspapers. He can be reached at [email protected].
