The top ten most expensive weather disasters in the world this year recorded insured losses worth $ 150 billion, exceeding 2019 levels and reflecting the long-term effects of global warming. This emerges from a report published on Monday. The same disasters have claimed at least 3,500 lives and displaced more than 13.5 million people. From uncontrolled forest fires in Australia in January to record-breaking hurricanes in the Atlantic by November, the real cost of the year’s climate disasters was actually much higher as most of the losses were uninsured. Unsurprisingly, the burden on poor countries was disproportionate, as evidenced by the global NGO Christian Aid’s annual balance sheet, “Count the Costs of 2020: A Year of Climate Change”. According to the report, only 4% of economic losses due to extreme climate-related events were insured in low-income countries, compared with 60% in high-income economies, citing a study published in The Lancet last month.
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