Swiss Re has estimated that economic losses from natural disasters will rise to $310 billion in 2024, a 6% increase from 2023. The report highlights that insured losses will reach $135 billion, marking a 17% rise year-over-year. Contributing factors include urban asset concentration, rising reconstruction costs, and the impact of climate change, with 2024 expected to be the hottest year recorded. The report also notes significant costs from hurricanes and floods affecting various regions, especially in Europe and the UAE.

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