Regis Philbin
Dec 22nd, 2006, 05:39 AM
They blame Bush for everything from the weather to obesity to E. Coli bacteria. Wonder if they'll give him credit for the lack of disasters this year?
Notice the lack of terrorist attacks??? :scratch:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/21/cnins21.xml
Hurricanes hardly happened, so it's a good year for the insurers
By Caroline Muspratt
Last Updated: 12:18am GMT 22/12/2006
Fewer storms and natural disasters have made 2006 the least expensive year for insurers in almost a decade and the third-cheapest in the past 20 years.
Natural and man-made catastrophes have triggered total economic losses of about $40bn (£20bn) and cost property insurers $15bn this year, according to estimates from insurer Swiss Re's Sigma report. An estimated 30,000 people lost their lives in catastrophes including earthquakes, windstorms and shipping disasters.
"After years of record losses, property insurers appear to be getting off lightly in 2006," Swiss Re said. "Catastrophe losses of only $15bn will allow them to replenish their risk capital, depleted by record payments for hurricane damage in 2005 and 2004."
2006 has produced the third-lowest loss for insurers in the past 20 years, after 1997 and 1988, Swiss Re said, mainly due to the quiet US hurricane season this year. It said that Europe had also been spared expensive catastrophes but warned that the year "is by no means over".
Last year Swiss Re said that natural and man-made catastrophes caused economic losses of about $225bn in 2005 when Hurricane Katrina swept through the US. Insured losses amounted to $80bn.
Notice the lack of terrorist attacks??? :scratch:
http://www.telegraph.co.uk/money/main.jhtml?xml=/money/2006/12/21/cnins21.xml
Hurricanes hardly happened, so it's a good year for the insurers
By Caroline Muspratt
Last Updated: 12:18am GMT 22/12/2006
Fewer storms and natural disasters have made 2006 the least expensive year for insurers in almost a decade and the third-cheapest in the past 20 years.
Natural and man-made catastrophes have triggered total economic losses of about $40bn (£20bn) and cost property insurers $15bn this year, according to estimates from insurer Swiss Re's Sigma report. An estimated 30,000 people lost their lives in catastrophes including earthquakes, windstorms and shipping disasters.
"After years of record losses, property insurers appear to be getting off lightly in 2006," Swiss Re said. "Catastrophe losses of only $15bn will allow them to replenish their risk capital, depleted by record payments for hurricane damage in 2005 and 2004."
2006 has produced the third-lowest loss for insurers in the past 20 years, after 1997 and 1988, Swiss Re said, mainly due to the quiet US hurricane season this year. It said that Europe had also been spared expensive catastrophes but warned that the year "is by no means over".
Last year Swiss Re said that natural and man-made catastrophes caused economic losses of about $225bn in 2005 when Hurricane Katrina swept through the US. Insured losses amounted to $80bn.