Munich RE: #s of Weather Related Catastrophes, Record Temps "Further Indications Of Climate Change"

[hatrack]

BERLIN (AP) — A leading reinsurer said Monday that extreme natural catastrophes in 2010, including severe earthquakes, floods and heat waves, led to the sixth-highest total of insurers' losses since 1980 and showed evidence of climate change.

Munich Re AG said in its annual review that insured losses came in at $37 billion (euro27.69 billion) this year, up from $22 billion in 2009. It said total economic losses, including losses not covered by insurance, rose to $130 billion from last year's $50 billion.

"The high number of weather-related natural catastrophes and record temperatures both globally and in different regions of the world provide further indications of advancing climate change," the company said in a statement.

Altogether a total of 950 natural catastrophes were recorded last year, including five "great natural catastrophes:" the earthquakes in Haiti, Chile and central China, the heat wave in Russia and the floods in Pakistan.

EDIT

http://www.chicagotribune.com/business/sns-ap-eu-germany-munich-re-disasters,0,2889834.story

[kestrel91316]

1. It's only 45F here in Los Angeles at 10:30 AM. A year full of weird extremes here

looks to be followed by more of the same. I feel like I am in London, not LA.

[HereSince1628]

2. Insurer losses = insurance payouts = why insurance is bought

Interesting parsing of meanings.

I can only imagine that as more people in more places of the world gain resources to insure against their risk there will be more and more payouts.

Sorry, didn't mean to derail the thread