A day after the Insurance Information Institute released figures declaring 2011 the costliest year for P&C insurers covering U.S. cat losses, Munich Re and I.I.I. announced global cat figures.
With $380 billion in global catastrophe losses, 2011 easily surpassed 2005’s previous record high of $220 billion. $105 billion of the 2011 losses were insured.
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"Japan’s Tohoku earthquake and subsequent tsunami in March, excluding the consequences of “nuclear accidents” occurring thereafter, incited economic losses of $210 billion, which makes it the costliest natural catastrophe of all time, according to Munich Re.
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Global Cat Figures Released-Insurance Networking News
Some really interesting facts at the bottom of the summary. For instance, I knew the tornadoes were bad, but 226 tornadoes hit the US in a single day? Wow.
