The number of weather-related natural disasters soared last year, providing “further evidence of advancing climate change”, according to a major report from reinsurer Munich Re.
Munich Re said that 950 natural disasters were recorded last year, nine tenths of which were weather-related events such as storms, floods or heat waves. The total represents the second highest number of natural disasters recorded since 1980 and is 21 per cent higher than the average number of annual incidents recorded over the past decade.
Overall, in excess of 295,000 died as a direct result of natural disasters while overall losses reached $130bn (£83bn), of which just $37bn was insured. As a result, 2010 was among the six most loss-intensive years for the insurance industry since 1980.
The large death toll was partly the result of a higher than average incidence of earthquakes, which are not thought to be directly linked to climate change although ongoing research suggests there could be some connection between rising global temperatures and the incidence of earthquakes.
However, the report concludes that the increased incidence of flooding, storms, droughts and heat waves is likely to be the direct result of climate change.
“The high number of weather-related natural catastrophes and record temperatures both globally and in different regions of the world provide further indications of advancing climate change,” the company said in a statement.
In particular, the report highlighted how losses arising from the Pakistan floods reached $9.5bn and how the deadly heat wave in Russia led to 56,000 premature deaths.
It also concluded that the US and Caribbean enjoyed a “lucky escape” as the bulk of hurricanes failed to make landfall despite the region experiencing “one of the severest hurricane seasons of the past 100 years” that resulted in 19 named tropical cyclones, putting 2010 in joint third place after 2005 and 1933.
The report added that at the start of the 2010 hurricane season, water temperatures in the tropical North Atlantic were up to 2°C above the long-term mean.
“That is in line with the trend of the past 30 years, in which all ocean basins show an increase in water temperatures,” said Prof Peter Höppe, head of Munich Re’s Geo Risks Research. “This long-term trend can no longer be explained by natural climate oscillations alone. No, the probability is that climate change is contributing to some of the warming of the world’s oceans. This influence will increase further and, together with the continuing natural warm phase in the North Atlantic, is likely to mean a further high level of hurricane activity in the coming years.”
Torsten Jeworrek, Munich Re’s Reinsurance CEO, urged business and political leaders to step up efforts to manage growing climate risks. “The severe earthquakes and the hurricane season with so many storms demonstrate once again that there must be no slackening of our efforts to analyse these risks in detail and provide the necessary insurance covers at adequate prices,” he said.
Source : Business Green
