Questions and Answers
What was notable about the year 2023 in terms of climate?
What was the most damaging peril for insurers in 2023?
What percentage of economic losses due to natural disasters in 2023 was covered by insurers?
What was the most devastating catastrophe in 2023?
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What is one of the lessons learned from 2023's record-breaking temperatures?
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Study Notes
Climate and Natural Catastrophes
- 2023 was the hottest year on record, with 24 countries and territories experiencing their highest ever temperatures.
- There were nearly 400 disasters in 2023, resulting in $380 billion in economic losses, with only 31% of that damage covered by insurers.
- The year's catastrophes highlight the need to build a more resilient future.
Lessons Learned
Earthquake
- The most devastating catastrophe was the Turkey and Syria earthquake.
- The lesson learned is to ensure structural integrity and effective building codes to protect lives.
Severe Convective Storms
- Severe convective storms were the most damaging peril for insurers.
- The lesson learned is to evaluate both traditional catastrophe and evolving climate risks with the same focus, and to stay informed on the latest trends.
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Description
Learn about the record year for climate and natural catastrophes in 2023, including economic losses and opportunities for a more resilient future. Discover key takeaways, including the importance of green spaces and sustainable construction.
