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FILE PHOTO: The company logo of German reinsurer Munich Re is seen before the companys annual news conference in Munich, Germany, March 16, 2016. REUTERS/Michaela Rehle FRANKFURT/MUNICH (Reuters) - Insurers will have to pay claims of around $135 billion for 2017, the most ever, following a spate of hurricanes, earthquakes and fires in North America, according to a closely watched report published on Thursday. The German reinsurer Munich Re, in its annual natural catastrophe review, also said that last years total losses, including those not insured, were $330 million, the second-worst in history after 2011 when an earthquake and tsunami wreaked havoc in Japan. Although individual events could not be linked directly to climate change, global warming is playing a role. Munich Re said it expected more frequent extreme events in the future. We have a new normal, said Ernst Rauch, head of Munich Res Corporate Climate Center, which monitors climate change risks. 2017 was not an outlier, he said, noting that insured losses surpassed $100 billion multiple times since 2005. We must have on our radar the trend of new magnitudes. (Reporting by Tom Sims and Alexander Huebner; Editing by Maria Sheahan) View comments
# Building a Metaverse with Blockchain Technology: A Comprehensive Guide
Discover how to create a metaverse using blockchain technology, including costs, steps, and the potential of virtual reality.