A report by Munich Re reveals that natural disasters caused $320 billion in damages worldwide in 2024, significantly above the average of previous years. The majority of losses were attributed to climate-related events, with Typhoon Yagi being the deadliest, resulting in about 850 fatalities. Insurers faced unprecedented claims, particularly from tropical storms and a major earthquake in Japan. Munich Re emphasizes the urgent need for global action on climate change, stating that 2024 is the hottest year on record and calls for protective measures for the most vulnerable populations.