Rusty Garrett here with the weekend outlook: Saturday will be the milder of the two days. Sun and clouds will be the rule with early weekend highs in the mid 80s. Back to the low to mid 90s on Sunday!
GENEVA (March 27, 20130—Swiss Re, the world's second-largest reinsurer, says natural catastrophes and man-made disasters cost the insurance industry $77 billion in 2012, the third costliest year on record.
Swiss Re says the more than 300 catastrophes and disasters caused the loss of 14,000 lives and $186 billion, mostly because of "large scale weather events" in the United States such as Hurricane Sandy that accounted for $35 billion of insured losses, nearly half the total worldwide.
But the Zurich-based firm noted in a statement Wednesday the losses were well down from 2011, when record earthquakes and flooding in Asia Pacific region caused the highest ever recorded losses of more than $126 billion.
“Large parts of the globe that are prone to weather extremes" were uninsured, Kurt Karl, Swiss Re's chief economist, said.