Global flood losses hit $82 bln last year, as study highlights UK risk

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Flooding cost the global economy more than $82 billion last year, accounting for nearly a third of all losses from natural catastrophes, reinsurance agency Swiss Re Institute reported Wednesday.

In some parts of Europe, such losses could climb. A new study in the journal Nature found that stormy seas around Scotland and northern England have unleashed an increasing number of extreme storm surges in recent decades.

But scientists found that, in northern areas of the United Kingdom, stronger and more frequent storms over the North Atlantic since 1960 led to more extreme storm surges, according to thereleased Wednesday. The increased storm activity was as much to blame for the increase in extreme storm flooding as was sea level rise.

"Most countries assume that the likelihood of surge extremes will remain the same and only account for sea level rise," said lead author Francisco Calafat at the National Oceanography Centre in the United Kingdom. This may cause governments to underestimate future flooding, he said.

 

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Planning and policies must recognize the likelihood of disasters, even as it is difficult to know or plan for every contingency. DG

Well, in my guesstiamtion fluting cost us at least that amount.

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