2018 Global Disasters Cost $160 Billion; Climate Change a Factor, Report Says
2018 Global Disasters Cost $160 Billion; Climate Change a Factor, Report Says By Pam Wright weather.com At a Glance A third of the total global cost came from just four events in the United States. California's Camp Fire was the costliest disaster of 2018 at $16.5 billion. Hurricane Michael was second at $16 billion. Disasters cost the world a hefty $160 billion in 2018 and climate change was a factor in the final tally, a new report says. On Tuesday, German Insurance company Munich Re released its annual report estimating the cost of disasters that include weather events like tornadoes and hurricanes, wildfires, tsunamis and earthquakes. Globally, damage from disasters amounted to $160 billion, which is less than the $360 billion in damage reported by the company in 2017 but still higher than the $140 billion long-term average. It was the fourth-costliest year since 1980 in terms of insured losses. A third of that total ($80 billion)came from jus...
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