Advertisement

Damage from 2012 disasters dings insurers

AFP
AFP - [email protected]
Damage from 2012 disasters dings insurers

Natural and man-made disasters caused $186 billion in damage worldwide last year, according to a calculation released on Wednesday by the Swiss re-insurance group Swiss Re.

Advertisement

Of that sum, insurance companies were exposed to claims of up to $77 billion, which would make 2012 the third most costly year on record, it added in a statement.
  
Hurricane Sandy in the United States cost an estimated $70 billion in losses, with about $35 billion covered by insurers, making it the second most expensive storm on record after Hurricane Katrina hammered New Orleans and nearby regions in 2005.
   
A series of earthquakes in Italy contributed further to the 2012 total,
Swiss Re said.

The amount of insured losses was nonetheless well below that of 2011, when a record number of earthquakes and the Japanese tsunami resulted in insurance claims that totalled $126 billion, the group noted.

More

Join the conversation in our comments section below. Share your own views and experience and if you have a question or suggestion for our journalists then email us at [email protected].
Please keep comments civil, constructive and on topic – and make sure to read our terms of use before getting involved.

Please log in to leave a comment.

See Also