Hurricanes and tropical storms across the Atlantic caused about $110 billion in damages and losses this year, making it the most destructive season in five years, according to Munich Re, a German multinational insurance company.
Most of those costs stem from Hurricane Ian, which slammed into Florida in September, causing $100 billion in losses, the insurer said in a report.
“Tropical cyclones are one of the biggest risks for insurers,” the report said.
