Currently in Toronto — December 5th, 2022
The weather, currently.
The first full week of December will be a mild one. Monday morning will be bright under mainly sunny skies with a wake-up temperature of -1°C, but feeling like -7°C with the windchill. By lunchtime our clouds will increase. In fact, it will be cloudy as the kids head home from school. The high is 5°C. The wind will be moderate, up to 30km/h for the SW.
Monday night: cloudy and mild temperatures with showers developing, the low is 3°C.
Side note: Our daily average temperature in December is -2°C, and we record about 24cm of snow and 34 mm of rain on average.
What you need to know, currently.
The world’s insurance bill from extreme weather events and climate disasters this year is $115 billion — 42 percent higher than the 10-year average of $81 billion, according to Swiss Re, a Zurich-based reinsurance giant.
The firm estimates that Hurricane Ian, the Category 4 Atlantic storm that was the deadliest hurricane to strike the state of Florida since 1935, was the single largest loss-causing event of the year with an estimated insured loss of $50-65 billion. Swiss Re ranks the hurricane as the second costliest natural disaster ever, in terms of insurance losses, after Hurricane Katrina struck Louisiana in 2005.
Other extreme weather events, such as the winter storms in Europe, flooding in Australia and South Africa, and hailstorms in France and the US resulted in about $50 billion insured losses as well.
"Extreme weather events have led to high insured losses in 2022, underpinning a risk on the rise and unfolding on every continent,” said Martin Bertrogg, head of catastrophe perils at Swiss Re. “Urban development, wealth accumulation in disaster-prone areas, inflation and climate change are key factors at play, turning extreme weather into ever rising natural catastrophe losses.”
Swiss Re conducted this analysis to provide reinsurance, a type of financial protection that protects insurers from high claims. Climate change has started to hurt the industry, as it’s been creating more frequent and severe storms leading to unprecedented financial losses. Updated models, however, allow the industry to more accurately predict damages.
“When Hurricane Andrew struck 30 years ago, a USD 20 billion loss event had never occurred before,” Bertrogg said. “Now there have been seven such hurricanes in just the past six years.”
We are ramping up efforts to finish building Project Mushroom ASAP — a safe platform to promote connection, mutual aid, and transformative action at a critical moment in history. We need your help. Several community members have committed to a matching fund of $8,815 that will be used to match dollar-for-dollar all Kickstarter pledges made using this link through December 15th.