Disasters double their economic toll

The cost of natural disasters hit a record $144-billion (about R1.7-trillion) last year, says a study by one of the world’s top reinsurance firms, Swiss Re.

A full $92-billion of those losses were caused by three hurricanes — Harvey, Irma and Maria — that battered the US and the Caribbean, the report said.

Overall, natural and man-made disasters caused $337-billion in economic losses last year, double the 2016 mark.