Weather catastrophes drive majority of $225 billion economic cost of natural perils in 2018 – Aon catastrophe report
Global insured losses led by major tropical cyclone and wildfire events
The report reveals that 394 natural catastrophe events in 2018 generated economic losses of
The biggest driver of catastrophes in 2018 was the tropical cyclone peril following several significant landfalling storms. This included Hurricane Michael and Hurricane Florence (
Additional major events during the year included a series of major wildfires in Northern and
Other significant regional events during the year included:
- October's
Camp Fire in the US destroyed 18,804 structures, including most of the city of Paradise. Total economic costs were estimated to approachUSD15 billion . Overall insured losses from wildfires inCalifornia set a new record for the second year in a row. - In Japan, torrential rains during the month of July led to catastrophic flooding across much of the country with total damage nearing
USD10 billion . - A multi-billion-dollar flood occurred in
India's state of Kerala during the seasonal summer monsoon months. - Much of Northern and
Central Europe endured prolonged summer drought conditions as aggregate costs, mostly to agriculture, which tallied to nearUSD9 billion . Multi-billion-dollar drought events also impactedthe United States ,Argentina ,China , andIndia . - A significant stretch of severe weather and flooding impacted
Italy andAustria during October and November, as the economic toll toppedUSD5 billion . - Reaching
USD2.1 billion of insured losses, Windstorm Friederike was the fifth-costliest European windstorm of the 21st century.
Read the full Weather, Climate & Catastrophe Insight: 2018 Annual Report: http://bit.ly/if-annual-report-2018
Watch meteorologist and report author
Access current and historical natural catastrophe data, plus event analysis, on Impact Forecasting's Catastrophe Insight website
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