Disaster insuranceGlobal insured losses from catastrophes were $45 billion in 2013
Total economic losses from natural catastrophes and man-made disasters were $140 billion in 2013. Global insured losses were around $45 billion in 2013, with large contributions from flooding and hail events. The economic losses of $140 billion were down from $196 billion in 2012, and below the 10-year average of $190 billion. Around 26,000 lives were lost in natural catastrophes and man-made disasters in 2013.
According to the latest sigma study (the data from the study can be accessed and visualized at sigma explorer), global insured losses from natural catastrophes and man-made disasters were $45 billion in 2013, down from $81 billion in 2012. Of the 2013 insured losses, $37 billion were generated by natural catastrophes, with hail in Europe and floods in many regions being the main drivers.
Total economic losses from catastrophic events were $140 billion, down from $196 billion in 2012 and well below the 10-year average of $190 billion. The number of victims in disaster events grew to around 26,000 in 2013 from 14,000 the previous year.
Haiyan was the biggest humanitarian catastrophe in 2013
Asia was hardest hit by natural catastrophes in terms of economic losses and victims. Typhoon Haiyan in the Philippines in November brought some of the strongest winds ever recorded, alongside heavy rains and storm surges. Around 7,500 people died or went missing, and more than four million were left homeless. The second biggest humanitarian disaster of 2013 was the June flooding in the state of Uttarakhand in India, which claimed some 6,000 lives.
Europe suffered heavy losses in 2013
Swiss Re notes that Europe suffered the two most expensive natural disaster events in 2013. Massive flooding in central and eastern Europe in May/June after four days of heavy rain caused large-scale damage across Germany, the Czech Republic, Hungary, and Poland. Total economic losses were $16.5 billion, and the insured loss was $4.1 billion. Not long after, in late July parts of Germany and France were hit, this time by severe hailstorms. The storms struck heavily populated areas in Germany, which, according to latest estimates, generated most of the entire insured loss total of $3.8 billion, the largest ever from a hail event, worldwide.
Many regions around the world were hit by floods in 2013. The single largest loss-event in North America was extensive flooding in the city of Calgary, Alberta and surrounding area following six days of torrential rain. The economic loss was $4.7 billion and the insured loss was $1.9 billion. Floods also generated losses in Australia, Asia and South America.
