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World Bank Says Natural Disasters Cost $3.8 Trillion Since 1980

Annual economic losses from natural disasters have almost quadrupled in the past three decades, the World Bank said in a report that recommends investments ranging from early-warning systems to safer roads and buildings.

The average reported losses rose from around $50 billion a year in the 1980s to almost $200 billion a year in the past decade, totaling $3.8 trillion from 1980 to 2012, according to the report, which used data by Munich Re, the world’s largest reinsurer. Three-quarters of the total was due to extreme weather, it said.