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AP National Business

Hurricane Ida, Europe floods made 2021 costly for disasters

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Published 7:00 AM

By FRANK JORDANS
Associated Press

BERLIN (AP) — Damage wrought by Hurricane Ida in the U.S. state of Louisiana and the flash floods that hit Europe last summer have helped make 2021 one of the most expensive years for natural disasters. Reinsurance company Munich Re said Monday that overall economic losses from natural disasters worldwide last year reached $280 billion. That makes it the fourth-costliest year after 2011, when a massive earthquake and tsunami struck Japan. It said insured losses in 2021 amounted to $120 billion, the second-highest after 2017, when hurricanes Harvey, Irma and Maria hit the Americas. The company warned that studies showed a link between global warming and natural disasters.

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