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Cost of disaster escalates, US worst hit with calamities in 2017: Report

Hurricanes Harvey, Irma, and Maria together caused insured losses of about $93 billion, according to the report.

IANS  |  Zurich 

City: The damaged dome of Our Lady of Angels Church, which collapsed Sunday afternoon, is seen from an adjacent rooftop in the Guerrero neighborhood of Mexico City File Photo: AP/PTI
City: The damaged dome of Our Lady of Angels Church, which collapsed Sunday afternoon, is seen from an adjacent rooftop in the Guerrero neighborhood of Mexico City File Photo: AP/PTI

Disasters in 2017 caused losses of $306 billion, according to a report from insurance giant

The figure represents a 63 per cent jump from last year, and is well above the average of the past decade, the BBC quoted the report as saying late Wednesday.

The was hardest hit, with hurricanes in the and the southern US, in and in

Despite the rise in the financial cost of disasters, there was no significant increase in the loss of lives.

said more than 11,000 people died or went missing in events in 2017, which is similar to 2016's figure.

A report by the firm's research arm Sigma found insured losses amounted to $136 billion, more than double last year's total and the third highest on record, the BBC reported.

Hurricanes Harvey, Irma, and together caused insured losses of about $93 billion, according to the report.

But said the insurance industry had demonstrated that it could cope very well with such high losses, despite gaps in protection remaining.

"If the industry is able to extend its reach, many more people and businesses can become better equipped to withstand the fallout from events", said Martin Bertogg, head of catastrophe perils at

First Published: Thu, December 21 2017. 14:21 IST
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