Global total economic losses from natural catastrophes and man-made disasters in the first half of 2017 were $44 billion, compared with $117 billion in the first half of 2016, according to Swiss Re. Much of this can be attributed to fewer and less intense events.
Of the total losses in the first half of 2017, $23 billion were covered by insurance, down from $36 billion in the first half of 2016.
Globally, around 4,400 people lost their lives or went missing in disaster events. While the number is low relative to recent years, the toll may rise once estimates on the number of victims of Europe's severe June heat waves are included.
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Denny Jacob
Denny Jacob is an associate editor for NU PropertyCasualty360. Contact him at [email protected].
