Billion-dollar disasters: The economic toll of wildfires, severe storms and earthquakes is soaring
NBC5 days
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While losses appear alarming, they actually decreased from $155 billion in the first half of 2024 to $131 billion in 2025. The insurance industry has successfully adapted to cover 61% of total losses, providing crucial financial protection. Modern risk assessment and pricing mechanisms help distribute costs effectively across the global market.
There is a 50% chance that the total damage incurred by climate change in the 21st century will be 16.5% of the world gross domestic product, according to the Metaculus prediction community.