Dating catastrophes

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And yet appropriate insurance solutions do exist, which can significantly help get people and economies back on their feet financially after a natural disaster.” Ernst Rauch, Head of Climate & Public Sector Business Development: “The above-average share of insured losses this year masks the reality of how little coverage many parts of the world still have.

In many developing countries, losses from natural catastrophes often remain almost totally uninsured.

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Another apparent paradox is that such events may start to occur more frequently in the future as a result of climate change: plants in certain regions are beginning to sprout earlier in spring, while the threat of frost often does not diminish to the same extent, so that the risk actually increases.In some districts, three-quarters of the territory was under water.The fact that only a small fraction of the US$ 3.5bn in total losses was insured contributed to the humanitarian catastrophe.Note: Although there have been no scientifically verified cases of astronomical objects resulting in human fatalities, there have been several reported occurrences throughout human history.Consequently, the casualty figures for all events listed are considered unofficial.Second, there continues to be a substantial insurance gap, even in a highly developed market like the United States where, for example, the vast majority of home and small business owners do not purchase flood insurance.

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