Now 2021 looks like being the second-worst year ever for the world's insurers.
Germany's Munich Re said Monday (January 10) that natural catastrophes led to insured losses of around $120 billion over the 12 months.
That would be second only to the hurricane-ridden year of 2017.
2021 saw an early deep freeze in Texas, followed by dozens of tornadoes and then Hurricane Ida.
That storm alone saw $36 billion in insured costs.
Munich Re says that left the U.S. accounting for an unusually large share of global losses.
Elsewhere in the world, the floods in Germany were another big cost for insurers, and Munich Re says the outlook is only likely to get worse.
The German reinsurer says climate change is likely to make extreme weather events more common.
And that will affect everyone, not just those hit by disasters.
Some insurers are already raising rates or refusing coverage amid the prospect of more frequent catastrophes.
