2011 was one of the most active on record for natural catastrophes, with 253 events generating an economic loss of $435 billion, according to Aon Benfield’s Annual Global Climate and Catastrophe Report.
At $107 billion, the total insured loss from natural catastrophes in 2011 was the second highest on record, only surpassed by 2005’s $120 billion. This also makes a 280 percent increase from insured losses in 2010.
The 10 largest 2011 natural catastrophe insured losses represented 81 percent ($86 billion) of the total insured loss figure, and included four severe weather events, three earthquakes, two floods and one tropical cyclone. Globally, the most costly event was the Japan earthquake in March that caused $35 billion in insured losses and $210 billion in economic losses.
Stateside, a record 17 separate events of billion-dollar losses were recorded in 2011.
