Insurance Post

Sandy topped 2012 losses while Italy saw record earthquake damage

Dark storm clouds and lightning broken by the sun shining down onto a calm sea

A rare series of Italian earthquakes caused insured losses in excess of $1.6bn in 2012, the highest ever recorded in the country, according to Swiss Re.

Low insurance penetration meant that insured losses were still only a fraction of the total economic losses of $16bn.

"Although substantial, insured claims were only a fraction of the total cost of

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