Disaster Risks Particularly High In Asia: Swiss Re

Law360, New York (March 17, 2009, 12:00 AM EDT) -- Economies and businesses in Asia face especially high risk of catastrophic losses, global insurer Swiss Re said Tuesday in a research report that described 2008 as one of the worst years for such losses globally.

More than 240,000 people lost their lives around the world, insurers paid out more than $52 billion in property claims, and the total impact of natural disasters on the world's economies added up to $269 billion, according to the report, titled “Natural catastrophes and man-made disasters in 2008.”

Almost half of...
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