04 February 2010
Published in: Cat risk - ILS
Aon Benfield launches monthly cat report
Aon Benfield has launched a monthly report that analyses catastrophic events across the world.
Published by the company's Impact Forecasting team, which evaluates global perils for the re/insurance industry, the Monthly Cat Recap provides a round-up of catastrophe data, including event magnitudes, economic and insured loss figures, and the impact on local population and infrastructure.
The January 2010 issue highlights the devastation caused by the Haitian earthquake on 12 January, one of the deadliest natural disasters in a century. With a magnitude of 7.0, the earthquake is estimated to have claimed more than 200,000 lives. While total economic losses amount to billions of dollars, the insured loss figure is far smaller because of low insurance penetration in the region.
Other significant natural catastrophes noted in the report include a magnitude-6.5 earthquake off the northern Californian coast, causing damage to 463 buildings with an estimated cost of $43m, and the severe cold snap and extended winter weather in Europe which claimed 276 lives, including 202 in Poland alone.
In the UK, 29 people died during what was the longest cold period since 1981, and the economic loss was estimated at $1.6bn (£1bn). Germany suffered nine deaths because of the cold weather, with an economic loss of around $3bn (€2bn).