Insurance Company Ranks 2010 among Worst Years Ever for Climate Disasters: Scientific American
"Fire, water, earth and air -- the four basic elements have seldom been so destructive as in 2010," said Torsten Jeworrek, chairman of Munich Re's reinsurance committee in a letter accompanying a new report.
"The overall economic loss amounted to some US$ 150bn, with earthquakes alone accounting for almost one-third of this total," Jeworrek said in the letter. "Altogether, the insurance industry had to shoulder losses in the order of US$ 37bn for natural catastrophes worldwide in 2010."
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"Such catastrophes as the floods in Pakistan or the wildfires in Russia are extreme occurrences within the framework of regional trends which are in all probability attributable to climate change," says the report
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The insurer urged Europe's emissions trading program to continue operating, even as negotiators debate the post-Kyoto framework. Munich Re pointed to an uptick in business interest, noting "a clear political signal showing that industry has, to a large extent, already pushed ahead on climate protection, and that a political framework must now be established to ensure the further development of climate protection."
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