economic losses

Just a few days after we wrote about the still-apparent protection gap, between economic and insured losses, due to typhoon Soudelor, figures from China show that on flood events the gap is as wide, with $18.4 billion of economic loss due to flooding in 2015 so far.

Typhoon Soudelor, which struck Saipan, Taiwan and China recently killing at least 41 people and wreaking destruction from strong wind and torrential rainfall, has once again highlighted that the protection gap, between economic and insured losses, remains wide.

An Aon Benfield report shows that economic losses from global natural disasters for the first six months of 2014 totaled $54 billion, roughly 49% below the 10-year (2004-2013) average of $106 billion.

A professor of civil engineering at Kansai University, who is also part of the Japanese government’s Central Disaster Management Council, estimates that a magnitude 7.3 earthquake beneath Tokyo could cost as much as $3 trillion dollars (300 trillion yen) in economic losses.

Reinsurance firm Swiss Re’s sigma unit, which analyses and quantifies economic and insured losses from natural and man-made catastrophe events in its reports, has put an estimate on global catastrophe losses from the first-half of 2013 at $56 billion of economic losses and over $20 billion of insured losses.

The latest sigma study from reinsurance company Swiss Re has been published today and it shows that natural catastrophes and man-made disasters in 2012 caused economic losses of $186 billion and insured losses of $77 billion. A number of large-scale weather events in the U.S. helped to push up the insured loss total for the […]

The estimates of economic losses from hurricane and super-storm Sandy keep rising northwards and are now fast approaching the $70 billion mark. The estimates given for New York and New Jersey states alone are almost there, with the estimate for New York still at $33 billion of economic losses and the estimate for New Jersey […]

Global reinsurer Munich Re has published its half-year report on the natural catastrophe activity experienced around the globe in the first-half of 2012 and how natural catastrophe losses have impacted the insurance and reinsurance market. After a near record year of insured losses in 2011, this year has been subdued by comparison with moderate losses […]

Aon Benfield have published their Monthly Cat Recap Report for September which is put together by their Impact Forecasting catastrophe modelling and analysis arm. The report takes a look at the major natural catastrophe and weather events around the globe during the last month and puts economic loss figures on the resulting damage.

A new country level study on the economic exposure to natural disasters from risk analysis and mapping firm Maplecroft, suggests that while the U.S. and Japan have the highest economic exposure to natural hazards, it is actually the emerging economies of China, India, Philippines and Indonesia that pose the greatest threat to investors due to […]