Economics @ ITT

Weather cost the world $85 billion so far this year.

Posted in economics by ittecon on July 28, 2013

Wild weather has already taken an $85 billion toll on the world so far in 2013. Believe it or not, that’s actually a pretty typical sum for the first six months of the year. In fact, the tally of expensive disasters—that includes flooding in central Europe $22 billion, a 6.6-magnitude earthquake in China’s Sichuan Province $14 billion, tornadoes and other severe weather in the US $4.5 billion from May 18-22 alone, and droughts in Brazil $8.3 billion, China $4.2 billion, and New Zealand $1.6 billion—is actually 15% lower than the 10-year average.

via Weather cost the world $85 billion so far this year. Only 1/4 of that was insured – Quartz.

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