Insurers: 2008 2nd Worst year for Weather-Related Disasters
POZNAN – Weather-related disasters and earthquakes are likely to make 2008 the second most costly year for insurers after 2005, when Hurricane Katrina struck the United States, a leading insurer said on Wednesday.
Losses in 2008 are around $160 billion so far, Thomas Loster, chair of Munich Re Foundation, told Reuters on the sidelines of December 1-12 climate talks in Poznan, Poland.
He said it was likely to have been surpassed only by 2005, when Katrina contributed to losses of $220 billion.
