Climate disasters cost world’s insurers $120 billion, says new report

In 2021, natural disasters devastated many parts of the world. Between floods, storms and heat waves, thousands of people lost their lives. Many more were left without homes. These disasters were also expensive. Last year was the second costliest year on record for insurers around the globe, according to a report out this week from the world’s largest reinsurer, Munich Re. To discuss the cost of all of these disasters, The World’s host Marco Werman spoke with Munich Re’s chief climate and geo scientist Ernst Rauch.