2017 First Half Global Natural Catastrophe Damage Drops More Than 63%!

Munich Re stumped: wonders why damages from natural catastrophes have fallen dramatically

By Dr. Sebastian Lüning and Prof. Fritz Vahrenholt)
(translated/edited by P Gosselin)

One of the most often named consequences of climate change is the prognosticated increase in extreme weather damage. At the forefront stood the insurance companies which loudly warned and thus stealthily laid out the groundwork for new customer acquisitions and higher premiums. But there’s one small problem: the climate refuses to play along with the climate establishment. The online Bayerische Staatszeitung (Bavarian State News) reported on July 18, 2017 on the latest development:

Less damage from natural catastrophes

In the first half of this year it was comparably quiet on the planet

In the first half of the year the planet suffered less from heavy natural catastrophes when compared to the long-term mean. According to figures from reinsurer Munich Re, damage worldwide due to natural catastrophes amounted to 41 billion dollars (approx. 35.7 billion euros) from the start of January to the end of June. That was less than half of the 111 billion dollars of damage due to natural catastrophes that had occurred in the first half of 2016.”

Read more at the Bayerischen Staatszeitung.

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Munich Re: Damage from “cold snap in late spring”

By P Gosselin

And according to the highly dramatized Munich Re press release here, the largest share of the damage, 18.1 billion dollars, came from “many thunderstorms and tornadoes in the USA”.

Overall the 10-year average global natural catastrophe damage for the first half of the year is 102 billion dollars, Munich Re writes here. This makes the 2017 first half year dramatically mild.

Munich Re sales pitch: But do stay alarmed!

Munich Re Board member Torsten Jeworrek: “The exceptional accumulation of severe thunderstorms in the USA highlights just how important it is for insurers to have in-depth knowledge of natural catastrophes and how these are affected by climatic changes. This is true of both natural climatic changes and those that are man-made. Insurers not only help to overcome losses, they also improve our understanding of what triggers them. This is a fundamental basis for preventing future losses.”

Peter Höppe, Head of Munich Re’s Geo Risks Research: “The unusual atmospheric conditions in the USA in the first half of 2017 provided the perfect conditions for powerful supercell thunderstorms, which frequently bring major hailstorms and tornadoes. The number of tornadoes observed in the first quarter of 2017 was twice as high as the average for the last ten years.”

The Munich Re did not report the number of tornadoes for the first half.

Damage from “cold snap in late spring”

Another contributor to the natural catastrophe damage was a “cold snap in late spring”, the Munich Re added.

Some unusual weather events in Europe made a substantial contribution to the overall losses of €4.4bn, of which €1.7bn was insured. One event with very high losses that will not be remembered by many as a real natural catastrophe was a cold snap in April that affected a number of European countries. Temperatures as low as minus 7 degrees and snowfall in many parts of Europe in the second half of April resulted in serious frost losses in the agricultural sector, mainly vineyards and orchards.”

 

7 responses to “2017 First Half Global Natural Catastrophe Damage Drops More Than 637!”

  1. Green Sand

    ‘The $82 Billion Prediction’

    “…..RMS, a multimillion-dollar company that helps insurers estimate hurricane losses and other risks, brought four hand-picked scientists together in a Bermuda hotel room.

    There, on a Saturday in October 2005, the company gathered the justification it needed to rewrite hurricane risk. Instead of using 120 years of history to calculate the average number of storms each year, RMS used the scientists’ work as the basis for a new crystal ball, a computer model that would estimate storms for the next five years.

    The change created an $82 billion gap between the money insurers had and what they needed, a hole they spent the next five years trying to fill with rate increases and policy cancellations.

    RMS said the change that drove Florida property insurance bills to record highs was based on “scientific consensus.”

    The reality was quite different………

    ….Joining them was British climate physicist Mark Saunders, who argued that insurers could use model predictions from his insurance-industry-funded center to increase profits 30 percent……”

    Read it all and draw your own conclusions:-

    http://rogerpielkejr.blogspot.co.uk/2010/11/82-billion-prediction.html

  2. yonason

    If we can get a class action suit against those pirates, I’m in!

    1. yonason

      My last is to Green Sand.

      Thanks for that info., btw.

      1. Green Sand

        Yeh, the insurance industry adore ‘Global Warming’ ‘Climate Change’ ‘Extreme Weather’ and any other scare schemes they can get ‘scientists’ and their silicon chips to create. Also as insurance companies are major investors the markets quite the scam as well, so do governments who benefit from the ensueing taxation Tis only you and I that fund it!

  3. tom0mason

    The human race’s GLOBAL level of alarm has decline in recent years. As shown here the recalcitrant extreme weather is not doing its part in maintaining the mean levels of alarm.
    Compared to the peak of human alarm during the Dark Ages the ALARM summation index (Global Ordinary National Alarm Data Summation (Gonads)) has catastrophically slipped. Normal levels must be reasserted lest we are lulled into the complacent idea that the foreseeable future will be OK.

    Listen you sheeple! It is your duty to stay ALARMED.
    Now stay put and voice your worry and anguish. Why do you think your betters allowed you to have FarcBook, Twatter, Blogs, MSWindows, and all the other modern communications methods? Just so your betters could spy on you while YOU have fun? If nothing else think of the alarmingly huge amount of worry-debt burden YOU will be leaving for YOUR children — leaving for all future generations!
    Ask yourself, did previous generations struggle through the horrors of their lives with most of them dying miserable painful deaths just so YOU could have fun? I think not!!
    Start now and do your bit to ensure levels of personal guilt, despair, and ALARM are raised to new unprecedented highs, allowing us all to return to normal sleepless nights of anguish.

    REMEMBER!!
    You have been warned — there will be repercussions!

  4. tom0mason

    Lost in the spam bin again?

  5. Weekly Climate and Energy News Roundup #281 | Watts Up With That? | SAVIOR.NEWS