NU Online News Service, Sept. 20, 2:28 p.m. EDT
Natural catastrophes have made 2011 the highest loss year on record globally, Robert Hartwig, president of the Insurance Information Institute, notes yesterday at the Houston Marine Insurance Seminar.
In his slide presentation Hartwig says that the “extraordinary accumulation” of severe natural catastrophes, earthquakes, tsunami, floods and tornadoes have caused $260 billion in globally in economic losses in the 2011 first half—a new record for the first six months, exceeding the previous record of $220 billion in 2005.
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