Munich Re and the I.I.I. have released their list of top disasters for the first half of 2011 based on insured losses. According to the two groups, an accumulation of severe natural catastrophes makes 2011 the highest-ever loss year on record, even after just six months.
The numbers bear out the facts. There was $265B in economic losses up to the end of June, which easily exceeds the total figure for 2005, previously the costliest year to date ($220B for the year as a whole).
Altogether, the loss amount was more than five times higher than the first-half average for the past 10 years. The insured losses, around $60B, were also nearly five times greater than the average since 2001.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
