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2016 Natural Disasters Cause $175 Billion in Damages

Worldwide natural disasters caused $175 billion in damages in 2016 — the highest since 2012, according to German reinsurance giant Munich Re. The secondary insurance company's figure shows a nearly two-thirds increase in financial impact from the previous year, though the number of casualties caused by natural disasters was much lower than 2015, at 8,700 deaths compared to 25,400. The costliest natural disasters took place in Asia — two earthquakes cost Japan $31 billion in losses,...

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