by Staff Writers
Zurich (AFP) March 27, 2013
Natural and man-made disasters caused $186 billion (152 billion euros) in damages worldwide last year, according to a calculation released on Wednesday by the Swiss re-insurance group Swiss Re.
Of that sum, insurance companies were exposed to claims of up to $77 billion, which would make 2012 the third most costly year on record, it added in a statement.
Hurricane Sandy in the United States cost an estimated $70 billion in losses, with about $35 billion covered by insurers, making it the second most expensive storm on record after Hurricane Katrina hammered New Orleans and nearby regions in 2005.
A series of earthquakes in Italy contributed further to the 2012 total, Swiss Re said.
The amount of insured losses was nonetheless well below that of 2011, when a record number of earthquakes and the Japanese tsunami resulted in insurance claims that totalled $126 billion, the group noted.
Bringing Order To A World Of Disasters
A world of storm and tempest
When the Earth Quakes
|The content herein, unless otherwise known to be public domain, are Copyright 1995-2014 - Space Media Network. AFP, UPI and IANS news wire stories are copyright Agence France-Presse, United Press International and Indo-Asia News Service. ESA Portal Reports are copyright European Space Agency. All NASA sourced material is public domain. Additional copyrights may apply in whole or part to other bona fide parties. Advertising does not imply endorsement,agreement or approval of any opinions, statements or information provided by Space Media Network on any Web page published or hosted by Space Media Network. Privacy Statement|