Global catastrophes in the first half of the year have already made 2011 the costliest year on record with respect to economic losses.
According to a recent webinar held by Munich Re, a total of 355 events occurred in the first six months of 2011, causing economic losses of around $265 billion. In the U.S. alone, there were 100 events causing more than $18 billion in insured losses.
"It has been a momentous year so far—one for the record books," said Robert P. Hartwig, Insurance Information Institute president, who spoke at the Munich Re webinar, "2011 Half-Year National Catastrophe Review."
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