Climate Change 2001:
Impacts, Adaptation and Vulnerability
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Figure TS-5: The costs of catastrophic weather events have exhibited a rapid upward trend in recent decades. Yearly economic losses from large events increased 10.3-fold from US$4 billion yr-1 in the 1950s to US$40 billion yr-1 in the 1990s (all in 1999 US$). The insured portion of these losses rose from a negligible level to US$9.2 billion annually during the same period, and the ratio of premiums to catastrophe losses fell by two-thirds. Notably, costs are larger by a factor of 2 when losses from ordinary, noncatastrophic weather-related events are included. The numbers generally include "captive" self-insurers but not the less-formal types of self-insurance.

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