A survey by reinsurer Munich Re found that losses from natural catastrophes covered by insurance came to $120 billion, turning 2022 into one of the costliest years on record
"Weather shocks are on the rise," Ernst Rauch, chief climate scientist at Munich Re, told Reuters. "We can't directly attribute any single severe weather event to climate change. But climate change has made weather extremes more likely."
Floods in Australia early in the year and again in October resulted in $4.7 billion in insured damages and $8.1 billion overall.that killed at least 1,700 people and caused $15 billion in damages. Most of the damage was not covered by insurance.
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