Of the 285 billion-dollar weather disasters between 1980 and 2021, tropical cyclones have caused the most damage: $1.062 trillion in total, with an average cost of almost $20 billion per event. These disasters are also responsible for the highest number of deaths: 6,593 between 1980 and 2020.
In response, hurricane parametric cover has emerged as a robust alternative risk transfer solution for businesses and public entities to build resilience against this evolving peril.