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  • Report: Disaster costs galloping higher

Report: Disaster costs galloping higher

When it comes to the high cost of responding to weather disasters, both the initial amount and the rate at which such costs increase are of obvious concern. And while zooming out on this front to those of the whole world might seem too general to be of use on the local level, when information from a major source contributes something, it can be useful to take notice.

The World Bank's recently released report on the growing changes in the amount multiple companies have paid over the last 30 years in response to hurricanes, floods, and other such examples of grievous storms.

Though trillions have been racked up in total, Bloomberg reported that the average annual cost was $50 billion. Unfortunately, the front-page storms that have appeared this year are likely to add to the cost. Nearly three-quarters of the damage costs are said to be connected to the weather at the time. But whatever the origin, the necessity of involving claims outsourcing in the handling of the claims that arise.

Bloomberg Businessweek also quoted a statement from the president of the World Bank, Jim Young Kim, on the role that greenhouse gasses are playing in these intensifying conditions.

"The world can no longer afford to put off action to slow greenhouse emissions, and help countries prepare for a world of greater climate and disaster risks," Kim said.

With costs skyrocketing on a global scale, reigning in expenses any way that you can is an admirable approach to helping overall efforts, and the impact of this might be felt on a grand scale if your company commits seriously to it.

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