Climate change to drive up storm losses
Climate change could result in as much as a two-thirds increase in the worldwide cost of major storms by the 2080s, according to the Assn. of British Insurers.
In a global analysis of the potential effects of projected climate-change trends on the three major storm types—U.S. hurricanes, Japanese typhoons and European windstorms—the ABI estimates that annual losses, both insured and uninsured, from such storms could rise to $27 billion by the 2080s.