2. Including only billion dollars climate events does seem misleading and especially prone to statistical bias. Both bias towards local weather around cities, but also for modern days, partly because of 1.
3. Population has gone up and cities expanded so there's now a much larger area to make billion dollars devastation on.
Using percentage of GDP and not setting an arbitrary threshold of a billion dollars would rectify some of these problems. An alternative graph is provided here [2], and on that it's much harder to spot a trend.
[1] https://www.bankingstrategist.com/housing-prices-hpi-vs-cpi
[2] https://www.forbes.com/sites/rogerpielke/2019/11/07/everythi...