First-half catastrophes caused $55B in insured losses, record economic losses

 Wednesday, July 13, 2011

 Business Insurance

Catastrophes worldwide caused an unprecedented $260 billion in economic losses during the first half and $55 billion in insured losses, Munich Reinsurance Co. and the Insurance Information Institute Inc. said Tuesday during a webinar. The first-half insured losses are more than double the amount during the comparable period last year and more than four times the 10-year average, Munich Re and the III said.
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