Quake helped triple-2010 disaster costs

12:46 AM costs, disaster, helped, quake, triple2010 No Comments

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.

Two for the money that strengthen these couples companies often built using their contrasting. Here is how she met and how she ended up. Life Inc.: How beauty can really end paying off your career: boss says close your Cybermouth! Nike shoe goes to pot with Cheech & Chong

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.

Copyright 2011, the associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

Read More

Japan disaster on the world's most expensive set

5:44 AM disaster, expensive, Japan, worlds No Comments

TOKYO - Japan's Government said the cost of the earthquake and tsunami that devastated the North-East $309 billion, so that it could reach the world's most expensive disasters on record.

The extensive damage to housing, roads, utilities and businesses in seven prefectures (States) a cabinet post resulted in losses between 16 trillion yen ($ 198 billion) and 25 trillion yen ($ 309 billion), estimate that Wednesday. Could the economic growth rate by 0.5 percent pull down this year.

The loss figure is significantly higher than other estimates. The World Bank said on Monday, damage could reach $235 billion. Investment bank Goldman Sachs had Quake estimated damage of about $200 billion.

Sweet! America's top 10 brands soda it was the biggest victory in the wars Cola since his first can Pepsi Michael j. Fox collected: Diet Coke last year passed Pepsi in the second place in the U.S. soft drink to move popularity. Medical pot counts as a blockbuster drug life Inc.: hate your work? You can be Chinese Liz Taylor fragrance sold, all other

The Government projection is correct, it would top the overall losses of Hurricane Katrina to. 2005 Megastorm, the New Orleans and the surrounding region costs devastated $125 billion, according to the insurance information Institute.

Japan's estimate includes the impact of the power faults caused by damage to a nuclear power plant, so the final figure could be even higher. There is also potential global impact.

"Following the tragic events in Japan obviously the domestic economy will change", said Takuji Aida, an economist at UBS Securities Japan, in a report. "But Japan's position in the global economy is also some transmission of the shock to other parts of the world, so it must."

The 9.0 magnitude quake and tsunami devastated on 11 March, Japan's northern coast, killing thousands of people and triggering a crisis nuclear power plant. Tens of thousands of people living near the plant were evacuated.

Power utilities have imposed rationing, many factories are closed and most important railway lines are impassable.

Toyota Motor Corp., which has no 1 world's automakers, car since March 14 due to the difficulty of secure of components, including rubber parts and Electronics was discontinued. By Sunday, 140,000 cars reach his loss of production.

The company said Wednesday it the introduction of the Prius hybrid van in Japan, in parts supplies in delay.

Toyota spokesman Paul Nolasco said the automakers roll out of the Prius minivan in April initially planned. But the disaster has crippled suppliers and destroyed stores, force, Toyota, to move the start.

A further Cabinet Office economic report released Wednesday emphasises the new challenges for Japan, which last year was at the end on the road to recovery from a pause in growth.

"The economy is moving towards recovery, but its independence is weak," he said.

Story: Delay the launch after earthquake Toyota Prius minivan

Broad, the Japanese economy lackluster for two decades was not succeeding, weak growth between slowdowns deadlines. Lost its position as no. 2 of the world economy to China last year and is with a massive public debt, to 200 percent of GDP, the largest among the industrialized nations is gesattelt.

The Government plans reportedly, public money into banks to help to rebuild support loans as companies. It can, which are financed from a Fund of 11 trillion yen ($ 135 billion), to pass that after the 2008 is still available from Lehman Brothers collapse banks under a law on emergency support.

Tokyo is working on plans for low-interest loans of up to 10 trillion yen (122 billion dollars) to companies of Quake damage, recover news report.

© 2011 The associated press. All rights reserved. This material may not be published, broadcast, rewritten or distributed.

Read More