NU Online News Service, Dec. 29, 1:00 p.m. EST
Global natural catastrophe losses for 2009 are estimated to have cost insurers more than $20 billion, according to assessments from two insurance industry participants.
Munich Re released an assessment today for 2009, estimating that insured catastrophe losses amounted to $22 billion, with a severe economic loss of $50 billion. This was almost half of last year's $50 billion in insured losses and $200 billion in economic losses.
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