Skip to main content

2015 natural disaster insurance cost falls lowest in six years

The natural disaster insurance cost in 2015 has fallen to its lowest in six years, Germany-based reinsurer Munich Re published its annual Natural Disaster Review on Monday.

The lowest insurance costs worldwide since 2009 was because of the reduced hurricane activity in the North Atlantic of El Nino weather phenomenon. Weather caused 94% of catastrophes including storms, floods and earthquakes last year, according to data from reinsurer Munich Re.

2015-natural-disasters-nepal
Earthquake damage in Kathmandu, Nepal (Disaster Report)
 The $27bn in insured damage last year was lower than the $31bn registered in 2014 and also below the 10-year average of $56bn, Munich Re said.

Overall damage, including that not covered by insurance, was $90bn last year, the lowest level since 2009.

The deadliest catastrophe, and also the costliest in terms of overall losses, was the Nepal earthquake in April, where more than 9,000 people lost their lives and overall losses totalled US$ 4.8bn.

The costliest single event for the insurance industry was a series of winter storms that hit the northeastern United States and Canada in February. They generated insured losses of $2.1 billion and total losses of $2.8 billion.

Natural Disasters 2015: The Year at a Glance


  • 2015 saw the lowest losses of any year since 2009. Overall losses totalled US$ 90bn (previous year US$ 110bn), of which roughly US$ 27bn (US$ 31bn) was insured.
  • The loss amounts were also below the long-term inflation-adjusted average for the period 1985–2014 (overall losses US$ 130bn, insured losses US$ 34bn).
  • The natural catastrophes of the past year claimed 23,000 lives, substantially more than the previous year's figure of 7,700. However, the number of victims was still some way below the annual average for the last 30 years (54,000).
  • For the first time, more than a thousand loss events were recorded in a single year. However, this is primarily due to improved communication of such events. In particularly benign years, a lot of minor events are recorded.
Source: Review of natural catastrophes in 2015: El Niño curbs losses from natural catastrophes in 2015, Munich Re, Retrieved from: http://www.munichre.com/en/media-relations/publications/press-releases/2016/2016-01-04-press-release/index.html

Popular posts from this blog

Have you ever witnessed an earthquake? What effect did it have on you?

Q: Have you ever witnessed an earthquake? What effect did it have on you? In general, the word earthquake is used to describe any seismic event either natural or caused by humans. Here we are talking about the natural cause. A natural disaster is a sudden natural event triggered by environmental factor which can cause loss of life or property damage. Earthquake is one of the common natural disasters worldwide that has claimed several lives causing huge economic losses. You might have also witnessed an earthquake in your time. This is an open discussion to share about any earthquake experienced in your life. Kindly use the comment section below to share your earthquake experiences.

Recent Natural Disasters List January 2, 2021

  Recent Natural Disasters 2021: This natural disaster list covers important natural disasters in the world with detail update report. Keep this page open or visit later to get update report. Check Worldwide Natural Disasters List + Detail Report Major Natural Disasters Today Flooding in Jakarta, Indonesia -At least 21 people have been killed in the recent flooding in Indonesian capital of Jakarta. -More than 60,000 people have been forced to evacuate their homes. Recent Earthquakes M 4.5 light earthquake in Central California (@ 33 km depth) with epicenter located 6 km E of Hollister, United States. 14:42 UTC (local time: 06:42, 2021-01-02 @ epicenter) M 4.8 moderate earthquake in Sulawesi, Indonesia (@ 10 km depth) with epicenter located 118 km S of Luwuk, Indonesia. 13:59 UTC (local time: 21:59, 2021-01-02 @ epicenter) Magnitude 3.6 light earthquake in Dodecanese Islands, Greece (@ 12 km depth) with epicenter located 16 km NNW of Néon Karlovásion, Greece. 02:25 UTC (local time: 04:2

Global Natural Disasters Map 2020

Map of Major Natural Disasters 2020 Above is the major natural disasters occurred in 2020 so far. The natural disaster map shows the occurrences of recent natural disasters 2020 including earthquake, floods, tsunami, wildfire, tornado, hurricane etc. The information in the map (google map) is manually entered by  Recent Natural Disasters . It includes facts, statistics, photos, videos and links to detail report on particular natural disasters. Click on the icon above and a message will pop up with data about the particular natural disasters. Use the magnifying glass with the plus sign (+) to zoom in, and the minus sign (-) to zoom out. Do you want this natural disaster map? Just paste HTML below to embed in your website. You can adjust width and height according to your site layout. All global natural disasters of 2020 will be shown automatically once the code is added. <b>Map of Major Natural Disasters 2020</b><iframe  height="