Disasters led to multi-billion dollar losses

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GENEVA, SWITZERLAND — A leading Swiss firm is estimating that disasters such as floods in Europe, winter storms in the U.S. and typhoons in Asia cost insurance companies $45 billion in 2013, according to KTVN-TV.

That estimate represents only about a third of the $140 billion in economic losses, not to mention 26,000 lives lost, from 308 catastrophes and disasters around the globe last year, the article stated.

According to the article, as a whole, Asia was the region that suffered the most, with $62 billion in economic losses and more than 20,000 victims; however, only $6 billion was paid in claims, reflecting the region's relative lack of insurance.

The U.S., which suffered severe thunderstorms, tornadoes, hail and winter storms, had a total of $32 billion in damage of which $19 billion was insured, the article noted.

Click here to read the article in its entirety.

Cleanfax Staff

Cleanfax provides cleaning and restoration professionals with information designed to help them manage and grow their businesses.

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