Globally, insurance and reinsurance market losses from flooding have accelerated significantly, with a doubling in the total in a decade to reach US $80 billion over the 2011 to 2020 period, but then another acceleration into 2021 when they reached $20 billion alone.
This is according to global reinsurance giant Swiss Re in a recent economic insights report, in which the company looks at the trends affecting global flood insured losses.
