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22 Aug 13 12:08

7 000 lives were lost in the first half of 2013 as result of natural catastrophes and man-made disasters, which cost society USD 56 billion.
Floods, in particular, were responsible for much of the human and economic losses, with large-scale floods in central Europe, as well as Canada and Australia causing large-scale devastation.
Unfortunately, floods continue to wreak havoc well in this second half of the year: Currently under water are more than 70% of Manila, as well regions in China and Russia and in other parts of the globe.
Nature has and will keep reminding us of its destructive power. As Swiss Re flood expert Jens Melhorn said recently "While we cannot stop future floods, we believe that preventative actions can be taken to mitigate the overall impact of extreme weather events".
Let us build a more resilient future! What measures have been taken in your area that worked well?
Read our latest Sigma "Preliminary estimates for H1 2013: Catastrophes cost global insurance industry more than USD 20 billion" for more http://ow.ly/o9Tvg


Category: Climate/natural disasters: Disaster risk, Resilience


2 Comments

Safa Rekkali - 23 Aug 2013, 7:38 p.m.

The chart suggests a quite interesting trend: a 3-year cycle of large (and increasing) economic losses (2005, 2008 and 2011). Is there any significance to this observation or is it merely a coincidence for this short period shown?

Thomas Holzheu - 7 Sep 2013, 10:01 p.m.

Given the short time frame, this should be considered coincidence. Especially since the 2011 losses were dominated by earthquake risks and 2005 and 2008 by hurricane. However, over a longer 30 or 40-year horizon we can observe insured losses increase at a faster pace than economic activity.


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