I remember in the early Hotchillee years, we rarely had to cancel ride outs—maybe once every two years. Now? You’re looking at 10 cancellations a year. That’s a 20-fold increase in weather disruptions.
Globally, the costs are staggering: in 2023, climate-related events hit $380 billion, or $47 per person. By 2050, this is projected to soar to $3 trillion annually, about $310 per person in a world of 10 billion people.
Let that sink in. In 1980, the cost was only $50 billion, or $11 per person. Adjusted for inflation, that’s $82.93 (price adjusted 1980 price) versus $310 in 2050 terms—a 4x increase in real-world impact.
Here’s the kicker: only 31% of 2023’s losses were insured, leaving a $262 billion shortfall. Someone has to pay, and it’s likely to fall on the global citizen—you and me.
The scale and speed at which these disasters are escalating is undeniable. The real question is, how much longer can we afford to ignore it?