Disasters cost $268b in 2022: Swiss Re

Natural and man-made catastrophes have caused $268 billion of economic losses so far in 2022, chiefly driven by Hurricane Ian and other extreme weather disasters, reinsurance giant Swiss Re estimated Thursday. Of the estimated $268 billion total economic losses for property damage so far this year, $260 billion are from natural catastrophes and $8 billion from man-made disasters, such as industrial accidents. The $268 billion figure is down 12 percent from $303 billion last year, but above the $219 billion average over the previous 10 years. At $115 billion, total insured losses from natural catastrophes were down five percent from the $121 billion in 2021, but well above the previous 10-year average of $81 billion.