Insurance Industry Share Of Weather-Related Losses Rising, With 60% Tied To Small Events
Friday, August 12th, 2005 PropertyThe insurance industry’s share of the world’s total economic losses from weather-related catastrophes is rising rapidly, and 60 percent of these weather-related losses are attributable to small events as distinct from headline-catching catastrophes, according to a decade long study by scientific experts. The report indicates that the industry pays out more money on property claims for small events such as hail storms and lightning strikes then it does for larger events such as hurricanes or tornadoes.
External References & Further Reading
http://www.insurancejournal.com/news/national/2005/08/11/58250.htm
