Harvey experienced losses of £ 4.5bn ($ 2.8bn ) six years , its first decline in six years , due to the impact of extreme weather on the insurance market. Last year’s 330 natural disasters are estimated to have caused a global economic loss of $353bn (£251bn), with Harvey, Irma and Maria accounting for 60% of the insured losses. Events including hurricanes Harvey , Irma and Maria saw the specialist insurance market pay out £ 4.5bn in claims, more than double the £ 2.1bn paid the previous year . Lloyd’s was particularly affected by the hurricanes, which accounted for 60% of the losses, as US and the US comprise 50% of its business. Last year was the first costliest on record in terms of natural disasters, with an estimated $353bn of global losses.
Harvey experienced losses of £ 4.5bn ($ 2.8bn ) six years , its first decline in six years , due to the impact of extreme weather on the insurance market. Events including hurricanes Harvey , Irma and Maria saw the specialist insurance market pay out £ 4.5bn in claims, more than double the £ 2.1bn paid the previous year . Lloyd’s was particularly affected by the hurricanes, which accounted for 60% of the losses, as US and the US comprise 50% of its business. Last year was the first costliest on record in terms of natural disasters, with an estimated $353bn of global losses.