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Disasters caused $186 bn in damage last year: Swiss Re
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.




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Outside View: Homeless youth awareness
New York (UPI) Mar 27, 2013
On March 22, 160 New York and New Jersey young professionals took on the challenge of sleeping out one night to raise awareness about homeless youth. Launching the first Sleep Out: Young Professionals Edition for Covenant House, the group has raised more than $230,000 to help homeless youth get off the streets. Covenant House is the largest privately funded charity in the America ... read more

Disasters caused $186 bn in damage last year: Swiss Re

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