Nat Cat deaths at record level in 2003
A Munich Re study finds that five ‘great’ natural catastrophes were major contributors to the record 75,000 deaths caused by natural hazard events in 2003. The US tornadoes, Algerian earthquake, European and American heatwave/forest fires and the Iranian earthquake also account for about a third of both economic and insured losses.
The intensification of weather extremes and the resulting increase in loss potentials presents new challenges to insurers according to Stefan Heyd, the Board member responsible for corporateOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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