U.S. storms linked to climate change leave insurance industry reeling
Severe storms that swept much of the U.S. in the first half of this year resulted in $34 billion in insured losses — the “highest ever” recorded in a six-month period. The big picture: That’s according to a report out Wednesday from Swiss Re Group, which estimated global insured losses from natural catastrophes at $50 billion — the second highest since 2011. “The effects of climate change are evident in increasingly extreme weather events,” the report notes. This year has been notable for a series of climate change-related extreme weather events, including this summer’s record heat wave in the Northern Hemisphere, unprecedented ocean temperatures and a series of atmospheric river events in California.