Archive for July 29th, 2013

Drought, Hurricane Sandy, & World Floods 2012-13 Losses, Part 2

posted by Jael Ever @ 7:00 AM
July 29, 2013

flood-warnings-EuropeFor the first six months of this year, Munich Re says floods in Europe, Asia, Canada and Australia, etc., top global losses for 45% of insured losses for first six months of this year.  Of the $ 45 billion in losses only $13 billion were insured.

According to Munich Re’s loss report:  “Altogether, natural catastrophes— also including earthquakes, tornadoes and heat waves—caused $45 billion in losses in the first half of 2013, well below the 10-year average of $85 billion.”

The most expensive of this year’s natural disasters so far are the flooding rivers in Germany and nearby countries last May and June which came to more than $ 16 billion in damage.

While poorer nations cannot afford much insurance coverage, nonetheless:  “The deadliest disaster out of 460 recorded ‘natural hazard events’ worldwide was a series of flash floods in northern India and Nepal that killed more than 1,000 people in June after early and exceptionally heavy monsoon rains.”

Torsten Jeworrek from Munich Re says:  “The frequency of flood events in Germany and central Europe has increased by a factor of two since 1980.” Peter Hoeppe, from its Geo Risks Research unit, adds: “it is evident that days with weather conditions that lead to such flooding are becoming more frequent.”

Increasingly scientists foresee earth’s disasters tumbling toward much greater increases.  For instance, researchers at UK’s University of Cambridge and the Netherlands’s Erasmus University Rotterdam claim the melting Arctic will eventually bring the high cost of some $ 60 trillion in losses.

In ‘Scientists Warn on Arctic ‘Economic Time Bomb’ for CNBC News, Pilita Clark argues:  “The rapidly melting Arctic is . . . likely to cost the world at least $60 trillion, say researchers who have started to calculate the financial consequences of one of the world’s fastest changing climates.”

While the world of oil financiers believe an ice-free Arctic will open up “30 percent of the world’s undiscovered gas and bears19213 percent of its undiscovered oil,” those scientists insist that, on the contrary, the melting Arctic “will damage crops, flood properties and wreck infrastructure around the world.”

For example, Cambridge’s Chris Hope says: “People are calculating possible economic benefits in the billions of dollars and we’re talking about possible costs and damage and extra impacts in the order of tens of trillions of dollars.”

In addition, these scientists argue:  “. . . warmer Arctic waters are expected to hasten thawing of the permafrost beneath the East Siberian Sea off northern Russia that is believed to contain vast deposits of methane.”

As Apostle Paul writes in Bible prophecies:  “ . . . knowing the time, that now it is high time to awake out of sleep . . . (Romans 13: 11),” believers must wake up to perils pending over the world and pray, before it is far too late!

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