Tags: EU | Insurance | Disaster Losses

Insurer: 2016 Saw Highest Natural Disaster Losses in 4 Years

Image: Insurer: 2016 Saw Highest Natural Disaster Losses in 4 Years

Wednesday, 04 Jan 2017 06:12 AM

BERLIN (AP) — A leading insurer says that last year saw the highest costs from natural disasters since 2012, with a pair of earthquakes in Japan in April accounting for the heaviest losses.

Munich Re said in an annual survey Wednesday that losses from natural disasters totaled $175 billion last year, some $50 billion of which was covered by insurance.

The earthquakes on Japan's southern Kyushu island caused $31 billion worth of damage, with $6 billion of the costs covered by insurance. Floods in China in June and July caused $20 billion in costs, only $300 million of which was insured.

Hurricane Matthew, which hit the Caribbean and the eastern United States in August, incurred losses totaling $10.2 billion, of which $3.8 billion was covered by insurance.

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A leading insurer says that last year saw the highest costs from natural disasters since 2012, with a pair of earthquakes in Japan in April accounting for the heaviest losses.Munich Re said in an annual survey Wednesday that losses from natural disasters totaled $175...
EU,Insurance,Disaster Losses
126
2017-12-04
Wednesday, 04 Jan 2017 06:12 AM
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