Severe weather and flooding in the U.S. resulted in several $1 billion insured loss events in 2010, in spite avoiding a hurricane landfall, according to the annual catastrophe report by global reinsurance intermediary Aon Benfield.
By far the largest insured event in 2010 was the February earthquake in Chile, causing about $8.5 billion in insured losses—more than the next two highest insured loss events combined. Windstorm Xynthia, also in February, caused $3.65 billion in insured losses and the New Zealand earthquake in September produced $3.05 billion.
Worldwide, catastrophe activity was higher than the last three years, with 314 events causing nearly $38 billion in insured loss, compared with 222 events producing $20 billion in insured losses in 2009.
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