Two U.S. natural peril events, Hurricane Sandy and a year-long drought, accounted for two-thirds of all 2012 insurance losses globally and nearly half of all economic losses for the year.

Aon Benfield’s first Annual Global Climate and Catastrophe Report also reveals that 295 natural peril events occurred worldwide in 2012 (compared to 257 in 2011) causing total economic losses of $200 billion, only slightly above the 10-year average of $187 billion.

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