Natural catastrophes continue to be responsible for the majority of insured and economic losses around the world, but man-made disasters also are having a significant effect.
According to a new report from Swiss Re, "Natural catastrophes and man-made disasters in 2015: Asia suffers substantial losses," there were 353 disaster events in 2015, of which 198 were natural catastrophes—the highest ever recorded in one year, with 155 man-made events.
The report also found that total economic losses caused by 2015′s disasters reached $92 billion, down from 2014′s $113 billion, and below the inflation-adjusted average of $192 billion for the previous 10 years.
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Rosalie Donlon
Rosalie Donlon is the editor in chief of ALM's insurance and tax publications, including NU Property & Casualty magazine and NU PropertyCasualty360.com. You can contact her at [email protected].
