In 2023, the World Meteorological Organization (WMO) reported that almost 12,000 extreme weather, climate, and water-related events over the past 50 years have caused over $4.3 trillion in losses. In 2022, natural disasters caused global economic losses of $313 billion, of which less than half was insured. In the U.S. alone, climate and weather disasters have caused roughly $120 billion in damages per year since 2017.
