Most costly catastrophes to the insurance industry worldwide from 1970 to 2015 (in billion U.S. dollars)

Loading statistic...
Expand statistic
Complete Source Details
About This Statistic

The statistic presents the most costly insurance losses worldwide from 1970 to 2015. It was found that hurricane Katrina, hitting the United States and Gulf of Mexico in 2005, was the most expensive disaster since 1970, as it incurred insured losses amounting to approximately 79.66 billion U.S. dollars.


Insuring against natural disasters

Insuring is the practice of transferring risk from one entity to another in exchange for payment. It is important, especially if one lives, owns property or a business in an area prone to natural disasters, to take out coverage for a range of storms, catastrophic events and natural disasters that could cause damage to real estate.

When considering this type of insurance it is important to ask a lot of the important questions up front. How long will it take for a claim to be settled for example, not all insurers settle claims with the same speed. Many also provide specific exclusions, be they for floods, earthquakes or other types of natural events. A detailed inspection of exclusions in a policy is important in order to find out which coverage is still needed. Obviously, the extent of coverage that one should take out is wholly dependant on the area in which one lives, in the United States, as well as in the rest of the world, there are low risk areas and there are high risk areas.

Despite this, no one can be sure where a natural disaster will occur and the severity of the destruction it could bring with it when it does, no one can stop natural disasters or the economic impact that they have but insurance helps to mitigate the loss caused by them.

Show more…
Special Functions
Download as ...
Graphic (PNG)
Excel (XLS)
PowerPoint (PPT)
PDF
Options
Settings
Print
Research Alerts
Download started
Please be patient - this may take a moment

Statista Accounts: Access All Statistics. Starting from $828.00 / Year

Statistics on "Reinsurance"

The most important statistics
The most important statistics

Related Studies: Available to Download in PDF or PPTX Format

Reinsurance

All Information
in One Presentation

Reinsurance

Everything On "Reinsurance" in One Document: Edited and Divided into Handy Chapters. Including Detailed References.

Statista for Your Company: The Research and Analysis Tool

  • Product Film
  • Statistics
  • Downloads

Our Premium Statistics - facts for your business

Currently, Statista provides more than 1 million statistics. 93 percent (all Premium content) are exclusively accessible via our professional accounts.

Unlimited access

As a Statista Premium customer, you receive unlimited access to all statistics at all times. Including downloads of data in the most common formats (XLS, PDF & PNG). Create relevant and significant statistics in no time.

You are in good company

Further Content: Statistics, Studies, and Topic Pages

Our Business Solutions: Save Time and Money

only

$828*

per year
Your advantages
  • Full access to all our statistics
  • Download as XLS, PDF & PNG
  • Relevant data: complete source information
All functions of our platform illustrated face-to-face
  • Learn how Statista supports your company
  • Extensive tour across the whole portal
  • Personal guidance by our support team
The knowledge database for your company
  • All functions of the Premium Account
  • Access to dossiers, forecasts and studies
  • Access to our international database
  • Publishing rights and other exclusive functions