Insured Losses in Perspective: 2011 2nd Largest on Record
AIR Worldwide report examines combinations of global catastrophes that would make $200 billion future insured loss possible.
INN Breaking News, January 16, 2013
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.
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