Swiss Re study counts the cost of catastrophe Swiss Re's Sigma statistics for 2004 identify around 330 natural and man-made catastrophes worldwide, in which more than 300,000 people lost their lives. By far the largest number of victims was claimed by the tsunami in the Indian Ocean: the authorities in the twelve coastal states affected reported 280,000 people dead or missing. The Sigma study puts the total losses directly attributable to these natural and man-made catastrophes at USD 123bn – of this figure, USD 49bn was covered by property insurance. For property insurers, 2004 was a record year in terms of claims, mainly due to storms: hurricanes in the US and neighbouring countries cost insurers around USD 32bn, typhoons in Japan and neighbouring countries a further USD 6bn. These record figures were the result of both the unusually high number of storms – 13 hurricanes in the US and 10 typhoons in Japan – and the increasing concentration of insured assets in highly exposed coastal regions.
•Date: 8th March 2005 • Region: Various •Type:
Article •Topic:
DR general |
