Insured losses from natural catastrophes and man-made disasters will total $65 billion for 2012, according to preliminary estimates by Swiss Re sigma research. Natural catastrophes accounted for more than 11,000 lives lost and $60 billion in insured claims.

In the second half of 2012, Superstorm Sandy and wide spread drought in the United States led to total economic losses from disasters more than $140 billion. Insured losses resulting from catastrophes could reach $65 billion, compared to insured losses of more than $120 billion last year due to record earthquakes and flooding.

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