The number of catastrophe events has more than doubled since 1980, he noted, with a total of 95 events for the first half of 2010. The bulk of those losses are climate related.

Peter Hoppe, head of geo risks research, corporate climate center at Munich Re, said internationally the increased number of climate-related loss events points to a pattern showing the "increased vulnerability of our high tech society."

The lion's share of the $22 billion in catastrophe losses that have occurred this year internationally have taken place in South America as a result of the earthquake in Chile, with $8 billion in insured losses.

Winter storm Xynthia, which rocked Europe in February, resulted in $3.4 billion in insured loss, and severe storms and hail in the United States Midwest accounted for $1.07 billion in insured loss.

However, Mr. Hoppe said, the long-term trend going back to 1980 indicates that, globally, disasters have been trending up dramatically from less than 200 events in 1980 to 440 for the first half of 2010 alone. Most of these disasters, he pointed out, are climate related.

Mr. Hoppe said that global warming is contributing to these weather events. He said no single catastrophic event is proof of global warming, but the "trend indicates that is the cause."

In an interview with NU Online News Service, Ernst Rauch, head of corporate climate center for Munich Re, said while there are social and economic reasons for the cost of catastrophes increasing, that does not explain the increased number of climate-related events.

He said the trend is not scientific proof of climate change, but the events are powerful indicators that it is taking place.

For insurers, he said, the changes will mean adjustments in their models. The adjustments, he noted, may mean an increase in risk for some and a decrease for others.

Robert Hartwig, president of the Insurance Information Institute, said while insurers and reinsurers have witnessed an increase in the number of catastrophes, they have still been able to pay losses, and there is no reason to believe that won't continue.

He credited insurers' success to their strong ability to underwrite risk and their financial model that helped them avoid the brunt of the economic meltdown.

Despite the economic and risk pressures, insurers have managed to remain solvent, but Mr. Hartwig noted that as the insurance industry goes through its inevitable cycle, impairments may increase in the future.