[January 30, 2015] |
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A.M.BestTV: 2014 Was a Surprising Year for Natural Catastrophes
This A.M.BestTV episode examines the recent storms in Japan,
Belgium, Germany and the United States, as these top the list of 2014's
largest insured losses, according to a reinsurer's new report.
Additionally, a series of winter storms drove up claims, with the most
damaging storm being in India.
Carl Hedde, head of risk accumulation at Munich Re America, found
2014 to be a very interesting year for natural catastrophes.
"Although there was a late start to the 2014 tornado season, tornado
activity was quite high, as it and storm losses were $12.8 billion,"
said Hedde. "2014 also represents the fourth highest total losses on
record, and is the fifth consecutive year that this number exceeded $10
billion."
However, 2014 was not that great a year in reference to the size of
global losses, when compared with the 10-year average. Last year had
$110 billion in economic losses and $31 billion in insured losses, while
the 10-year average was $190 billion and $58 billion, respectively,
according to Munich Re. Munich Re recently released its annual
review of losses caused by natural catastrophes in 2014.
Also appearing in this episode:
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Ted Gregory, manager at Property Claims Services.
Click here to view the entire video program: http://www.ambest.com/v.asp?v=cats115.
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