Global natural disasters cost $520 billion of consumption loss annually, 60 percent larger than asset losses that are commonly reported, the World Bank said in a report. The estimate is based on the impact of disasters such as floods, windstorms, earthquakes, and tsunamis on people’s well-being, measured by the decline in their consumption, Stephane Hallegatte, one of the authors of the report which was released on Wednesday, said in an email.