The Geneva Association, the leading international insurance and risk management think tank, has released a report on the “Warming of Oceans and the Implications for (Re)Insurance Industry“.

The key finding is that “ocean warming has effectively caused a shift towards a ‘new normal” for a number of insurance-relevant hazards’.

The report contains two graphs, one showing the increasing number of weather catastrophes:

Number of Weather Catastrophes Worldwide
Number of Weather Catastrophes Worldwide

and the other graph showing the increasing cost of weather catastrophes:

Cost of Weather Catastrophes Worldwide 1980-2012
Weather Catastrophes Worldwide 1980-2012