Last year was a costly one in terms of dollars and human life as insurers saw catastrophe losses increase by 59 percent from the previous year, according to a Swiss Re report.
The Zurich, Switzerland-based insurer's report, "Natural Catastrophes and Man-made Disasters in 2010," states that insurance claims from 304 catastrophe events in 2010 cost the industry in excess of $43 billion, compared to $27 billion in 2009.
Swiss Re says 2010 is ranked as the seventh-costliest year for insurers, but is not close to 2005, the year of Hurricane Katrina, when catastrophe losses exceeded $117 billion.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- Breaking insurance news and analysis, on-site and via our newsletters and custom alerts
- Weekly Insurance Speak podcast featuring exclusive interviews with industry leaders
- Educational webcasts, white papers, and ebooks from industry thought leaders
- Critical converage of the employee benefits and financial advisory markets on our other ALM sites, BenefitsPRO and ThinkAdvisor
Already have an account? Sign In Now
© 2025 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
