GLOBAL: DISASTERS CAUSE$130 BILLION LOSSES IN2013

Global: disasters cause$130 billion losses in2013

Disasters caused global economiclosses of about $130 billion in 2013,Swiss Re said. In a preliminary estimateof the impact of natural and man-madedisasters, the Zurich-based reinsurancegroup noted that the economic impactin 2013 was sharply down from $196 billion in 2012, a year marked bySuperstorm Sandy in the United States.However, the total loss of life climbedto about 25,000 people in 2013 from14,000 in 2012, it said. Recent TyphoonHaiyan in the Philippines was thedeadliest single disaster, killing more than 7,000 people, Swiss Re noted. Butdespite the devastation wreaked, insured losses from the typhoon are expectedto be modest, it said. It pointed to thelow proportion of insurance coveragein the Philippines a common issuein developing nations, which are alsoamongst the globe\'s most disaster-pronecountries.

 




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