From 1980-2000, approximately 75% of all disaster-related costs were attributed to billion-dollar disasters. By 2022, the percentage of disaster-related costs due to billion-dollar disasters had further risen to approximately 85%. Consider the following key statistics and comparisons on natural disasters over the last 30 years (1991-2020): Global natural disasters in 2021 spiked 13% compared to previous years. However, despite this increased frequency, the number of deaths caused by disasters in 2021 was 81% lower compared to the average over the last 30 years. This indicates that efforts in disaster preparedness, early warning systems, and emergency response have been effective in reducing fatalities.

Over the past decade, on average, around 45,000 people globally died from natural disasters each year. Flooding and severe storm events have shown the greatest increase among all types of natural disasters in recent years. However, in 2021, 48% fewer people were affected by disasters, which implies that measures such as improved infrastructure, evacuation procedures, and disaster risk reduction strategies have helped minimize the overall impact on communities.

Direct economic losses from global natural disasters have increased by 82% over previous years. This suggests that despite the reduction in deaths and affected populations, the economic impact of natural disasters has increased, potentially due to growing populations and weaker infrastructures in vulnerable areas. Storms, including cyclones, hurricanes, tornadoes, blizzards, and dust storms, accounted for 30% of all natural disasters, further highlighting the significance of storms in all global events.

The U.S. experienced 23 separate billion-dollar weather and climate disasters in the first eight months of 2023 — the largest number since records began. Munich Re recently released their estimates for catastrophe losses for the 1st half of 2023. The most significant event was the Turkey and Syria earthquake which killed an estimated 58,000 people and caused $40 billion in damage. Bottom line: Weather and climate catastrophes caused an estimated $70 billion in damage for the first six months of the year.

As you can see, global negative events continue to spike and as we approach the holiday season, ReadyGlobal is here to protect your company, your community, and your family.