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Fast facts about climate risk insurance
In 2024, insured losses from natural disasters reached $140 billion.
Average U.S. home insurance rates rose nearly 34% from 2018 to 2023.
Globally, climate disasters could cost the economy $38 trillion annually by 2050.
Insurers are increasingly withdrawing from high-risk areas, creating 'insurance deserts'.
Parametric insurance payouts are based on predefined climate triggers, speeding up relief.
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