Thunderstorms cause $45 billion in damage in the U.S. in just six months
Damage from frequent storms is growing faster than losses from hurricanes, wildfires and other catastrophes.
A man surveys storm damage in downtown Houston, Friday, May 17, 2024.
John Shapley/Houston Chronicle via Getty Images
Climate Wire Global losses from natural disasters will exceed the long-term average in the first half of 2024, with thunderstorms causing more damage in the United States than hurricanes, wildfires, or other major disasters.
Severe thunderstorms caused $45 billion in losses in the U.S. from January to June, of which $34 billion was insured, according to an analysis by reinsurance firm Munich Re, making 2024 the fourth-costliest year on record for thunderstorms based on the first six months of the year.
Much of the damage was caused by tornadoes and hail generated by the storm, the report said.
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North America’s losses amounted to $60 billion, half of the total global losses. Globally, insured losses totaled $62 billion, compared with an average of $37 billion over the past decade.
Thunderstorms may seem like minor events compared to other types of disasters. They tend to be less damaging individually than earthquakes, hurricanes, fires, or floods. But thunderstorms occur more frequently than many other types of severe weather, and damage accumulates over time.
A January report from Munich Re said losses from lightning storms in Europe and North America are set to break records in 2023, with total damages reaching $76 billion and insured losses reaching $58 billion.
A report from another reinsurance company, Swiss Re, also warned last year that damage caused by thunderstorms was growing around the world, with many low- to medium-level damage events last year causing more than $100 billion in damages, with thunderstorms being the main cause.
“The cumulative effects of more frequent low-loss events, rising property values and repair costs will have a significant impact on insurers’ profitability in the long term,” Jerome Jean-Haegeli, chief economist at Swiss Re, said in a statement last year. “The increased frequency of severe thunderstorms in 2023 poses a revenue test for the primary insurance industry.”
Research has shown that climate change is making thunderstorms worse around the world, largely due to simple physics: a warmer atmosphere holds more moisture, leading to more intense rainfall.
This doesn’t necessarily translate to more frequent storms. In some places, the total number of thunderstorms may not change much, but the thunderstorms that do occur may be more intense. Research has already shown that extreme precipitation events are getting worse across the U.S., according to the federal government’s Fifth National Climate Assessment. The 2023 study also found that intense thunderstorm winds are affecting larger areas of the country over time.
Studies have also shown that as temperatures continue to rise, the number of thunderstorms may increase in some areas.
The increased risk of thunderstorms is taking a toll on the U.S. Severe storms have been responsible for half of all billion-dollar disasters in the U.S. since 1980, according to NOAA, and the number of billion-dollar thunderstorms has been increasing over time.
“Climate change will entail evolving risks that require everyone – society, the economy and the insurance industry – to adapt and mitigate increasing losses from weather-related events,” Thomas Blank, member of the Munich Re board of management, said in a statement.
Disasters around the world
A range of catastrophes caused havoc around the world in the first half of 2024, Munich Re reported.
Not all of them are weather-related: Earthquakes this year in Japan and Taiwan each caused billions of dollars in damage, and the magnitude 7.3 quake in Taiwan was the worst the region has seen since 1999.
Flooding caused the most damage in other areas too.
Heavy rains in Brazil caused severe flooding and landslides in April and May, causing damages estimated at $7 billion, while devastating floods also occurred in Germany in May, with the costliest case causing damages of $5 billion.
Seasonal monsoon rains caused severe flooding in East Africa earlier this year, including in Kenya, Tanzania, Burundi and Somalia, while tropical cyclones Hidayah and Yiali struck the region in May, compounding earlier damage, killing hundreds and forcing an estimated 500,000 to flee.
Heavy rains also caused floods in China’s Guangdong province this spring, resulting in losses of at least $5 billion.
Exceptionally severe flooding also occurred in April in parts of the Middle East, including Oman and the United Arab Emirates, where flooding is rare. Total damage in the region was estimated at $8.3 billion.
The downpour in Dubai, United Arab Emirates, exceeded all daily rainfall records recorded over the past 75 years, according to a study by World Weather Attribution, a research consortium that specializes in identifying connections between climate change and extreme weather.
They also found that climate change has had a significant impact on the phenomenon, with rainfall in the region increasing by 10 to 40 percent compared to what it would have been without global warming.
Source E&E News Posted with permission from POLITICO, LLC. Copyright 2024. E&E News delivers news that matters to energy and environmental professionals.
