This is just some of the aftermath from Hurricane Ian, a category 4 hurricane that made landfall in western Florida in late September with extreme winds, torrential rain and storm surge. Swiss Re Institute estimates it to be the second-costliest insured loss ever after Hurricane Katrina in 2005. (Photo: Ryan/Adobe Stock) This is just some of the aftermath from Hurricane Ian, a category 4 hurricane that made landfall in western Florida in late September with extreme winds, torrential rain and storm surge. Swiss Re Institute estimates it to be the second-costliest insured loss ever after Hurricane Katrina in 2005. (Photo: Ryan/Adobe Stock)

International economic losses from natural and manmade catastrophes combined were $268 billion in 2022, according to the Swiss Re Institute's annual estimates, and that figure is significantly higher than the 10-year average of $81 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
NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Elana Ashanti Jefferson

Elana Ashanti Jefferson serves as ALM's PropertyCasualty360 Group Chief Editor. She is a veteran journalist and communications professional. Reach her by sending an e-mail to [email protected].

Coverage & Policy Issues
Catastrophe & Restoration
Analytics & Data
Weather Risk