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> Losses from severe thunderstorms have steadily increased by 7% annually in the last 30 years. 2023 marks an increase of almost 90% compared to the previous 5-
by hwillis 2y ago
> Losses from severe thunderstorms have steadily increased by 7% annually in the last 30 years. 2023 marks an increase of almost 90% compared to the previous 5-year average (USD 32 billion), and more than doubles the previous 10-year average (USD 27 billion).
https://www.swissre.com/press-release/Insured-losses-from-severe-thunderstorms-reach-new-all-time-high-of-USD-60-billion-in-2023-Swiss-Re-Institute-estimates/4a15acf7-64b4-4766-8662-1c35d268ab12 https://www.swissre.com/press-release/Insured-losses-from-se...
from the previous year's report.
- Ekaros 2y agoSo how does it compare to stock market or other such markets? If it tracks, well same effect just bigger number.
- HeatrayEnjoyer 2y agoMost economic growth are not in assets that can experience physical damage, or not without very widespread or global devastation. Exponentially growing economic losses thus implicate exponentially more violent weather. And exponents have a way of growing from curiosities to existential threats overnight.
- hwillis 2y agoThunderstorms damage things like house cladding, roads, and water and power infrastructure. Things built 20+ years ago. Inflation is a reasonable control since it may make the repairs more expensive. The stock market is not a reasonable control because it is related to the production of these assets. Production that is delayed and smoothed over decades.
- hnburnsy 2y agoIsn't that worldwide and not just the US, and not inflation adjusted.