Earthquakes Prompt Record Insurance Claims in 2011
Luke 21:8-11, “He replied: ‘Watch out that you are not deceived. For many will come in my name, claiming, ‘I am he,’ and, ‘The time is near.’ Do not follow them. When you hear of wars and revolutions, do not be frightened. These things must happen first … Nation will rise against nation, and kingdom against kingdom. There will be great earthquakes, famines and pestilences in various places, and fearful events and great signs from heaven …”
(Reuters) – “Insurance industry damage claims from natural disasters like the earthquakes in Japan and New Zealand reached a record $105 billion (67.3 billion pounds) in 2011, Munich Re (MUVGn.DE), the world’s biggest reinsurer, said on Wednesday.
The cost to insurers from the earthquake and tsunami in Japan in March, which caused nearly 16,000 deaths, was estimated at $35 billion to $40 billion, the company said in its annual review of the prior year’s natural disasters.
That equalled the insured cost of all the natural disasters to strike the United States during the year, it said.
An earthquake in New Zealand in February added a further $13 billion to insurers’ claims payout for the year, Munich Re said.
The earthquakes together made up about half of last year’s total insured losses from natural catastrophes, which topped the previous record of $101 billion set in 2005, when Hurricane Katrina devastated New Orleans. Munich Re compares losses in original dollars, and not adjusted for inflation.
‘Normally, it is the weather-related natural catastrophes that are the dominant loss drivers,’ Munich Re said.” Read more.




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