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2024 Sees $320 Billion Losses from Climate Disasters

1/10/2025

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Summary

Story summary

In 2024, the world faced a staggering $320 billion in losses due to natural disasters, driven by the escalating impacts of climate change. This year became the third costliest for insurers, claiming 11,000 lives. Amidst this turmoil, Canadian insurer Fairfax Financial drew ire for its absence of climate goals, standing out as a top fossil fuel underwriter.

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Story summary

In 2024, the world faced a staggering $320 billion in losses due to natural disasters, driven by the escalating impacts of climate change. This year became the third costliest for insurers, claiming 11,000 lives. Amidst this turmoil, Canadian insurer Fairfax Financial drew ire for its absence of climate goals, standing out as a top fossil fuel underwriter.