Insured losses from natural catastrophes were greater than $110 billion in 2011, the second-highest figure ever recorded, according to Swiss Re in “Taking a Comprehensive View of Catastrophe Risk Worldwide,” a report from AIR Worldwide. And there is a 6.7 percent probability the insurance industry will experience a loss of this size in any given year.
In 2012, insured losses totaled $65 billion, $25 billion of which are attributed to Superstorm Sandy, as estimated by Munich Re. The costliest year was 2005; insured losses from natural catastrophes including Hurricanes Katrina, Rita and Wilma alone caused claims of more than $100 billion.
Register or login for access to this item and much more
All Digital Insurance content is archived after seven days.
Community members receive:
- All recent and archived articles
- Conference offers and updates
- A full menu of enewsletter options
- Web seminars, white papers, ebooks
Already have an account? Log In
Don't have an account? Register for Free Unlimited Access