Reported about 22 hours ago
Insured losses from natural catastrophes reached $140 billion in 2024, the highest level since 2017, largely due to severe weather events like hurricanes and unprecedented wildfires in Los Angeles. These losses were more than double the 30-year average, with rising temperatures linked to climate change intensifying non-peak perils, such as floods and wildfires. The severe destruction from these events has prompted insurers to reassess risk management strategies in regions increasingly affected by climate-related disasters.
Source: YAHOO