Value of insured losses from natural disasters worldwide 2022-2023, by type
Severe convective storms, or thunderstorms, were the natural disaster with the highest value of insured losses worldwide in 2023, followed by flooding and drought. The value of global insured losses totaled 118 billion U.S. dollars, with severe convective storm accounting for 70 billion U.S. dollars. It needs to be noted though that the total economic losses from natural disasters were much higher and only a fraction of them were insured.