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Insurance Industry Should Expect $100 Billion in Catastrophe Losses Every Year: Verisk

September 11, 2023

Total global insured losses from natural catastrophes of more than $100 billion a year may be less newsworthy than in the past. In fact, the industry should expect loss totals of at least $100 billion every year, according to models from data and analytics firm Verisk.

Average losses over the last 5 years is $101 billion, an increase from an average of $70 billion over the previous five years, 2013-2017. Now, Verisk’s models say the average annual loss from global natural catastrophes is $133 billion – a new high – driven by factors other than weather.

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