Climate scientists have suggested that we will see more extreme weather as a result of climate change. Are there more weather-related disasters than there used to be? I have been wondering this recently but haven’t had the chance to verify it. The insurance industry ought to know the answer to this. So rather than trawl through boring scientific papers, I thought I’d see what the insurance industry’s assessment of the risk is.
Munich RE is one of the largest reinsurers in the world. They view climate change as “one of the greatest risks facing mankind”. On the Touch Natural Hazards section of their website, you can find analysis and statistics of natural hazards and catastrophes. I have found a graph of weather catastrophes worldwide from 1980 – 2012.