Hurricane Beryl’s Cascade of Crises Was Sign of Storms to Come

For most of us, disaster damage brings to mind the immediate impacts of a violent storm, like houses with their roofs torn off.

For insurance and reinsurance companies, that’s just the beginning of their worries. They’re increasingly concerned about cascading damages: the down-the-road disruptions to productivity, health and supply chains that bring their own significant economic costs.

Such costs “are felt through a variety of channels including power loss, the loss of work days, productivity, property damage and higher insurance premiums,” said Chris Lafakis, a climate economist with Moody’s Analytics. Moody’s predicts the global losses from natural disasters will escalate from ...