Swiss Re published the following preliminary estimates of the losses caused by natural and man-made catastrophes in the year 2000: 17,000 lives were lost, direct losses were around $38 billion, and $11 billion in insured losses.
The estimates, which will be fully set out in a Swiss Re Sigma report, expected in March, indicate a significant decrease last year in insured losses, which topped $31 billion in 1999, the second worst year on record.
Only one event, the Tokai floods in Japan, exceeded the $1 billion threshold, as opposed to seven in 1999. Random selection had a lot to do with it, states the report. There were no major earthquakes in populated areas in 2000 and fewer major windstorms.
Was this article valuable?
Here are more articles you may enjoy.
Prices for New Cars Have Soared. Here’s One Big Reason Why 
Meta Loses Insurance for Defense in Major Social Media Addiction Litigation 
Indiana Church Not Owed Replacement-Cost Payment for Fire Damage 
US Offers $20 Billion Reinsurance Plan to Spur Gulf Oil Flow From This Issue
