With devastating hurricanes Katrina and Wilma in the Americas and unheard of hurricanes approaching Europe, the world in 2005 is showing the highest-ever financial losses for weather-related disasters. Economic losses globally will exceed $US200 billion ($267 billion) and insured losses will be over $US70 billion, according to preliminary estimates released on Tuesday by the Munich Re Foundation, part of a leading reinsurance company.
Katrina, the biggest weather disaster ever, inflicted damage of $US125 billion in the southern US, including more than $US30 billion in insured losses. This year will trump 2004, the previous record year, with its global economic losses of $US145 billion and insured losses of $US45 billion. The record-breaking losses were announced on the sidelines of the United Nations conference to tackle global warming, which many scientists blame for the recent destructive weather patterns.
This year stood out not only for losses, but for several firsts on the weather front. Hurricane Wilma was the strongest hurricane ever, while Hurricane Vince was the first hurricane to approach Europe, making landfall in Spain in October. In 2004, the southernmost hurricane was recorded in Brazil. "A scientist would have laughed at you 10 years ago if you said there were going to be hurricanes in Brazil or hurricanes making landfall in Spain," the foundation's head, Thomas Loster, said.
The international environment group World Wildlife Fund also released a report - drawn on data from the US Government and the World Meteorological Organisation - in Montreal on Tuesday which said that 2005 was likely to the hottest, stormiest and driest year on record. It was shaping up as the worst for extreme weather and hottest temperatures.
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