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2012 Half-Year Natural Catastrophe Review

July 14, 2012 Comments off

2012 Half-Year Natural Catastrophe Review (PDF)
Source: Munich Re

+ Insured losses in the United States during the first six months of 2012 totaled US$ 9.3bn – near the long-term average but well below the US$ 24.4bn seen in the first half of 2011 (in 2012 Dollars).

+ Thunderstorm (tornado-hail) activity accounts for the almost all US losses so far, and are estimated at US$ 8.8bn, the third most costly spring thunderstorm season in US history

+ Very mild winter over most of US causes only minor winter storm losses. Lack of heavy winter precipitation limited spring flooding but has exacerbated drought conditions.

+ Severe droughts now impacting central and southwest parts of country; Two major wildfires in Colorado in June caused record damage in the state from the peril, and the largest wildfire in New Mexico history occurred in May.

+ Active early hurricane season; tropical storms Beryl and Debby caused minor wind damage and extensive flooding in Florida.

+ No significant, damaging earthquakes in US during first half of 2012.

Categories: natural disasters, weather and climate, Munich Re

Review of natural catastrophes in 2011: Earthquakes result in record loss year

January 4, 2012 Comments off

Review of natural catastrophes in 2011: Earthquakes result in record loss year

Source: Munich Re

A sequence of devastating earthquakes and a large number of weather-related catastrophes made 2011 the costliest year ever in terms of natural catastrophe losses. At about US$ 380bn, global economic losses were nearly two-thirds higher than in 2005, the previous record year with losses of US$ 220bn. The earthquakes in Japan in March and New Zealand in February alone caused almost two-thirds of these losses. Insured losses of US$ 105bn also exceeded the 2005 record (US$ 101bn).

Categories: business and economics, insurance and risk, Munich Re, natural disasters, weather and climate
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