Overall, tropical cyclones were the costliest peril in 2020, causing more than $78 billion in direct economic damage, Aon reports. Flooding was a close second with a loss cost of $76 billion. (Photo: Bloomberg)

A new report from Aon calculates the economic cost of natural catastrophes globally in 2020. Global economic losses from 416 natural catastrophe events resulted in $268 billion in economic losses. Of that total, the U.S. accounts for $119 billion.

Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader

Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:

  • Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
  • Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
  • Educational webcasts, white papers, and ebooks from industry thought leaders
  • Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Danielle Ling

Danielle Ling is an experienced video journalist and business reporter. As associate editor, Danielle manages all multimedia and reports on industry news and risk-related coverage, managing all weather-related content. A University of Maryland and Philip Merrill College of Journalism alum, Danielle previously served as a video journalist for Verizon FiOS 1 News NJ, Push Pause. Connect with Danielle on LinkedIn or email her at [email protected].

Coverage & Policy Issues
Catastrophe & Restoration
Commercial Lines
Personal Lines
Weather Risk