Jan 17, 2017

2016 Annual Global Climate and Catastrophe Report

Aon Benfield Analytics
  • Finds that there were 30 billion-dollar weather-related natural disasters in 2016: the fourth-largest number on record going back to 1990
    • (For comparison, the average from 1990 - 2016 was 22 billion-dollar weather disasters; the highest number since 1990 was 41, in 2013)
  • Finds that the combined economic losses from all 315 weather and earthquake disasters in 2016 was $210 billion, which is 21% above the 16-year average of $174 billion
  • Finds that the U.S. had the most billion-dollar weather disasters of any country, with a total of 14 (China came in second, with seven)
  • Finds that flooding was the most expensive peril globally for the fourth year in a row
  • Concludes that: "there has been an increase in both annual and individual weather disaster costs in the last nearly four decades. It can reasonably be assumed that the combination of effects from climate change, more intense weather events, greater coastal exposures and population migration patterns are all equal contributors to the loss trend.”