Quake helped triple-2010 disaster costs

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Geneva - jumped the economic cost of natural disasters and man-made disasters three times to $218 billion in the year 2010 of $68 billion in the previous year, with earthquakes the main cause of death and destruction, insurer Swiss reinsurance co. said Tuesday.

Some 304,000 died a strong increase of 15,000 2009. Haiti in disasters in the last year, earthquake alone died claimed 222,000 life, while nearly 56,000 people have been killed by Russian summer heatwave and over 6,200 people by floods in China and Pakistan.

The Zurich company said insurers $43 billion for the cost of disasters in the last year an increase of 60% last year-port. The earthquake in Chile and New Zealand losses of 12 billion US $ had assured it was. Eight other disasters, costs including storms in the United States, Germany, France and Australia insurers more than $1 billion last year.

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The only man-made disaster to the top ten most expensive was the deepwater horizon explosion, caused a massive oil spill in the Gulf of Mexico.

In its annual report, Swiss Re predicted that losses from the recent earthquake in New Zealand and Japan 2011 will be another expensive year for insurers.

"Although no long-term trend of increasing global earthquake activity, are the number of casualties and insured losses of earthquake on the rise," Balz Grollimund was one of the authors of the report, words. "The main reasons are population growth, the higher number of people living in urban areas as well as increasing prosperity and rapidly growing demands."

With its industry interests in mind Swiss Re Chief Economist Thomas Hess also indicated that many developing countries have poor disaster insurance. To improve some new-found prosperity in countries like China should be used, technisches Hilfswerk and insurance against extreme weather events like floods, he said.

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