
Natural catastrophe losses reached about $1.6 trillion in original values between 1980 and 2008 while insured losses amounted to about $465 billion, according to Munich Re. That compares to overall losses of more than $750 billion and insured losses of about $280 billion in this decade, the company said. “To what extent the increased losses are due to climate change is not yet clear,” Munich Re said in the statement. “Preliminary analyses suggest that it accounts for a low single-digit percentage of annual overall losses.”
To help developing countries, many of them in regions more exposed to natural catastrophes and unable to adapt to the growing danger, Munich Re has founded the Munich Climate Insurance Initiative. MCCI estimates its costs for preventive measures, microinsurance plan support, and funding of a climate insurance pool for the biggest risks will cost about $10 billion a year. “It is expected that items from the MCII program will be incorporated into the final Copenhagen document,” Munich Re said.
The Egyptian Bridge collapse in 1905 in Saint Petersburg
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