In 2016 Insured Natural Disaster Losses Reached $50 Billion, From $175 Billion In Damage
January 8th, 2017 | by Adam Johnston
Last year saw insurers pay out $50 billion in insured losses from natural disasters, according to The Guardian. The Kyushu Island earthquakes in Japan ranked as the two largest disasters. These two events saw insurers pay out $6 billion from $31 billion in total damages. Chinese flooding last summer near the Yangtze River caused $28 billion in losses, and was the largest weather-related disaster cost wise in 2016, said Jeff Masters of Weather Underground. However, only $300 million was insured from the third-largest non-US weather disaster in recorded history
