A new report by reinsurance giant Munich Re reveals that natural disasters caused global economic damage upto $160 billion in 2018. As per the report, around 10,400 people lost their lives in 2018 due to natural disasters. It says that 29 natural disasters in 2018 caused more than $1 billion in damage each.
The report says that the most expensive natural disaster was the “Camp Fire” in northern California with overall losses of $16.5bn and insured losses of $12.5bn. Photo credit: US Air Force
The Woolsey fire of Los Angeles destroyed around 1,600 houses, and caused losses of upto $5.2bn, with around $4bn in insured losses. Photo: Wikimedia Commons
Hurricane Michael caused overall losses of $16bn, and insured losses of $10bn. It ripped through Tyndall Air Force Base, Florida, and the surrounding area leaving severe damage through its path. Photo Credit: US Air Force
Hurricane Florence caused a total of $14bn in overall losses, with insured losses of $5bn. Much of Moores Creek National Battlefield in North Carolina was flooded by Florence’s. Photo credit: National Park Service/Flickr
In total, cyclones worldwide caused above-average overall losses of $56bn, while around half of the losses were insured. Sailors remove debris on Naval Base Guam following Typhoon Mangkhut in the Philippines which killed more than 50 people. Photo credit: US Navy
The report classifies the seven-metre tsunami in Indonesia’s Palu city which killed around 2,100 people as the deadliest disaster of 2018, followed by the tsunami in Sumatra and Java islands of Indonesia in December last year. Photo credit: Wikimedia Commons
On the sidelines, the worst natural disaster for India in 2018 was the Kerala floods, which peaked in August after record breaking downpour over 11 days, killed 503 people and injured 140. As per a report by the Economic Times, property worth more than Rs 20,000 crore was lost, while insurance companies received claims worth Rs 1,000 crore. Photo credit: Rejimon Kuttappan
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