June 1 marks the start of the six-month US hurricane season and the National Weather Service expects it to be above-average, with 13 to 19 named storms with winds of 39 mph (63 kph) or more predicted. Natural disasters around the world, including earthquakes, have cost $6.7 trillion since 1980, with only about one-third of the losses insured, according to Munich Re, the world’s largest reinsurer. Adjusted for inflation, Hurricane Katrina in 2005 is still the costliest natural disaster. In 2024, more than 90% of the $320 billion in global losses were weather related, according to the reinsurer.
