Weather, climate & catastrophe insight : 2017 annual report

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      <subfield code="a">Economic losses arising from natural disasters in 2017 were among the highest ever recorded on a nominal, inflation-adjusted, and normalized basis. The USD353 billion total was just the second year on record to ever surpass USD300 billion on an inflation-adjusted basis, joining 2011 with losses of USD486 billion . In terms of economic losses resulting solely from weather disasters, 2017 became the costliest year ever recorded at USD344billion. This was higher than the USD294 billion incurred in 2005. The predominant driver of damage in 2017 resulted from one of the costliest Atlantic hurricane seasons on record following the landfalls of Hurricanes Harvey, Irma, and Maria that left extensive damage across parts of the United States and the Caribbean Islands. Those three storms alone caused an estimated USD220 billion in damage and represented 62 percent of 2017¿s annual economic loss.</subfield>
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