Cost of global disasters 'jumps to $306bn in 2017'
AKIPRESS.COM - Disasters in 2017 caused losses of $306bn (£229bn), according to estimates from insurance giant Swiss Re.
The figure represents a 63% jump from last year, and is well above the average of the past decade, BBC reported.
The Americas was hardest hit, with hurricanes in the Caribbean and southern US, earthquakes in Mexico and wildfires in California.
Despite the rise in the financial cost of disasters, there was no significant increase in the loss of lives.
Swiss Re said more than 11,000 people died or went missing in disaster events in 2017, which is similar to 2016's figure.