A report from insurance company Munich RE highlights that global natural disaster losses exceeded $131 billion in the first half of 2025, slightly lower than the same period in 2024. The losses included severe spring thunderstorms but were significantly impacted by Los Angeles wildfires, which alone accounted for $53 billion in overall losses, with $40 billion insured.
Climate change is increasingly influencing these disasters, with researchers noting its role in worsening wildfire conditions. The report indicates that weather-related events contribute to 88% of overall losses and 98% of insured losses, while the significant earthquake in Myanmar resulted in additional losses mostly uninsured.
Experts urge the implementation of stronger building standards and infrastructure to mitigate future disaster impacts, particularly as insurance losses have consistently exceeded $100 billion over the past eight years. The report emphasizes the need for strategic planning in high-risk areas to reduce exposure and maintain manageable insurance premiums.
Source link
