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Water was Junes element of destruction, causing a combined $27 billion in economic losses in Central Europe, Canada, and India.

About $175 million of the pretax total can be attributed to catastrophes in the U.S.primarily storms in the central states.

About $175 million of the pretax total can be attributed to catastrophes in the U.S.primarily storms in the central states.

Historic flooding dominated a below-average natural catastrophe season through the first half of this year, according to a Munich Re Nat Cat presentation.

A.M. Best Co. says it does not expect a significant number of rating actions, while Moodys Rating Service says the event is credit negative for insurers.

A.M. Best Co. says it does not expect a significant number of rating actions, while Moodys Rating Service says the event is credit negative for insurers.

Insurance is estimated to cover about 75 percent of losses caused by record flooding in Alberta, Canada.

Insurance is estimated to cover about 75 percent of losses caused by record flooding in Alberta, Canada.