'Record damage hurricanes foresee more problems'

World January 4, 2018 11:18

- Natural disasters have cost insurers a new record of claims for damages. That is a precursor for what will come next in the coming years, according to the German reinsurer Munich Re.

Three hurricanes, Harvey, Irma and Maria, contributed to the $ 135 billion damage in addition to the earthquakes in Mexico.

The costs are three times above the ten-year average of $ 49 billion and 8% above the record that started before. In the event of a rising claims burden, premiums will have to increase over time.

According to Munich Re, about ten thousand people were killed last year by 710 natural disasters and accidents.

The Munich Re report is in line with the bleak picture of other reinsurers.

'Although individual events can not be directly attributed to climate change, our experts expect that such extreme weather will occur more often in the future,' said Munich's board member Torsten Jeworrek.

Especially the three hurricanes and floods in Southeast Asia are a foretaste of what else is coming, he warns.

The actual damage is much greater than the insured, $ 310 billion versus the $ 170. Even in rich countries like the US, people and companies choose not to insure themselves despite the increasing claims burden.

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