Cover Story – Catastrophe & Cat Modeling- Protection against hazards and disasters
Source: Asia Insurance Review | Jul 2009
In 2008, natural catastrophes and man-made disasters caused 240,500 fatalities and led to economic losses of US$269 billion (amount adjusted to inflation and is reported at 2008 prices), according to a sigma report on “Natural catastrophes and man-made disasters in 2008”. The cost to property insurers was US$52.5 billion, making 2008 one of the costliest catastrophe years in history.
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