Damage from natural disasters to rise to 250 250 billion by 2021: US, Europe hit hard | Finance

Globally, the year 2021 ranks fourth in terms of financial damage caused by wildfires, earthquakes and storms. A significant portion of all damage was in the United States, German reinsurer Munich Rey reported.

Extreme levels of flood danger were announced in at least 46 billion euros last July in Germany, Belgium and Limburg. Of this, € 33 billion was in Germany, the highest amount ever for that country.

Insurers

A relatively small portion was repaid by the insurers. According to Munich Re, flood insurance is not common in Germany and many uninsured roads are damaged. The government, but also those in the Netherlands came out in support of the victims.

The global damage caused by natural disasters is about 250 billion euros, according to Munich Re. Most of that damage occurred in the United States, with Hurricane Ida in the south being the most costly disaster. Severe cold and hurricanes also caused great damage in the country.

Storm Damage Ida in the United States

Storm Damage Ida in the United States

2011 was the most expensive year in terms of natural disasters. This was due to the large earthquakes in Japan and New Zealand. The global damage at that time was over 300 billion euros.

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