Energy Markets
Environment change shows 'claws' with rising expenses for catastrophes, Munich Re states
Hurricanes, storms, floods and other natural catastrophes caused an estimated $140 billion in insured losses in 2024, up from 2023 and one of the costliest years on record, Munich Re stated on Thursday. The year's tally of losses from natural catastrophes covered by insurance coverage compares with $106 billion taped in 2023 and is well above long-term averages. It is also greater than a similar anticipated by Swiss Re released in December. Munich Re, the world's biggest insurance provider, said the advancement programs that environment modification is showing its claws as international temperature levels continue to rise, adding to more...