Natural disasters and severe weather cost the global economy $417 billion last year, including $154 billion for which insurers were on the hook, according to a new report.
Accustomed to forecasting hurricanes and other natural disasters, Louisiana's historic snowstorm of 2025 will go down as one local meteorologist's favorite weather event to work.
Researchers also look at political or social factors that make a weather disaster more deadly or destructive—poor quality construction, for example, or badly maintained infrastructure.
Natural disasters caused US$368 billion in economic losses worldwide in 2024, with 60% of these damages uninsured, according to Aon ’s newly released 2025 Climate and Catastrophe Insight report.