Deepwater Horizon spill and Xynthia winter storm also feature in Swiss Re’s top eight
Natural and man-made disasters cost the global insurance industry $36bn (£23.1bn) in 2010, up 34% on the $27bn the industry paid out in 2009.
Of the total, $31m came from natural catastrophes, while the remaining $5bn was caused by man-made disasters, figures from Swiss Re reveal.
A total of eight events cost the industry more than $1bn each. The costliest was the earthquake and accompanying tsunami in Chile in February, which resulted in an $8bn insurance bill.
European winter storm Xynthia was in second place, with a bill of $2.85bn, and the third most expensive event was September’s earthquake in New Zealand, which cost $2.68bn.
Swiss Re put the insured property loss from the Deepwater Horizon oil rig explosion at $1bn, but said the figure was still uncertain, and that actual insured losses from Deepwater were higher because its figures do not include liability losses.
Hosted by comedian and actor Tom Allen, 34 Gold, 23 Silver and 22 Bronze awards were handed out across an amazing 34 categories recognising brilliance and innovation right across the breadth of UK general insurance.
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