The impact of natural and human-made disasters in 2022 will be felt for years. A new report shows with a month to go, 2022 is already one of the most expensive years on record for the world’s insurance industry.

According to Swiss Re, one of the world’s largest insurance companies, natural and human-made disasters caused roughly $268 billion in damage this year. Less than half of that, $122 billion, was covered by insurance. Swiss Re said the 10-year average for damages caused by natural disaster is $81 billion per year.

Hurricane Ian in Florida was the most expensive disaster in 2022 so far. When Ian hit the Sunshine State in September, it caused between $50-65 billion in insured losses.

Torrential rains in the spring caused widespread flooding in Australia. The estimated $4 billion in damage makes the flooding the most expensive natural disaster ever in Australia.

The most severe series of hailstorms ever observed in France caused more than $5 billion in insured losses. Europe was also gripped by an unprecedented heatwave this summer which destroyed crops across the continent and led to multiple wildfires.

In total, secondary perils like floods and hailstorms caused more than $50 billion in losses this year. 2022 is the second year in a row that insured losses totaled more than $100 billion.

Swiss Re estimates more than 11,000 people died in natural and human-made disasters so far this year. That total does not include the death toll from this summer’s European heatwave, which the World Health Organization said is responsible for at least 15,000 deaths.

Reuters contributed to this report.