$ 50 billion compensation insurance for the B2016 natural disasters
It revealed Munich Re, the largest reinsurance company in the world, in its annual report on natural disasters that insurance companies paid about $ 50 billion in compensation for damage to natural disaster claims, which is up nearly twice the amount paid in 2015 by $ 27 billion.
The earthquakes in Japan and the devastating floods in China, which insurance covered only 2% of their losses, higher cost of natural disasters in terms of the value of insurance during 2016. However, the insurance did not cover losses worth about 125 billion dollars.
It is noteworthy that this year more expensive to compensate for damage caused by natural disasters, after three years of relatively few losses, and higher than the average 10-year low of $ 45.1 billion.
A member of the Board of Directors the company Torsten Giork The losses occurred during one fleeting clearly can not be considered a trend, pointing out that the high percentage of losses that are not covered by private insurance in emerging markets and developing countries “is still a matter of concern.”
And re-insurance companies operate as a financial backer of the insurance companies, where you pay a large part of the large compensation claims for damage to disasters such as storms and earthquakes in exchange for part of the insurance premiums.
The value resulting from earthquakes in Japan’s southern island of Kyushu losses in the April 31 billion dollars, while floods in China in June and July in a loss of $ 20 billion.
North America and further damaged by natural disasters for any year since the 1980 in terms of total losses amounted to $ 10.2 billion. The hurricane Matthew most serious natural disaster. Most of the impact in Haiti where he caused the deaths of nearly 550 people and focus.