• Germany's news in English
 

2012 natural disasters cost €122 billion

Published: 03 Jan 2013 13:07 GMT+01:00

"Last year, natural catastrophes caused $160 billion in overall losses and $65 billion in insured losses worldwide," Munich Re said in a statement.

About 67 percent of overall losses and 90 percent of insured losses were attributable to the United States, with the year's highest insured loss caused by hurricane Sandy, with an estimated amount of around $25 billion, the reinsurer said.

In addition, the US was also hit by severe droughts, as well as tornadoes, it added.

Overall, global losses were significantly lower in 2012 than in the previous year, when record figures were posted due to the earthquakes in Japan and New Zealand and severe floods in Thailand, Munich Re continued.

In 2011, overall losses came to $400 billion and insured losses to $119 billion.

In terms of fatalities, about 9,500 people lost their lives in natural catastrophes last year compared with 27,200 in 2011 and a 10-year average of 106,000.

"The relatively small number of fatalities was due to the fact that, in 2012, few severe natural catastrophes occurred in emerging and developing countries, where natural catastrophes tend to have far more devastating consequences in terms of human lives," Munich Re explained.

Hurricane Sandy made landfall on the east coast of the US on October 29.

While at that point, its maximum wind speeds were no more than 150 kilometres (94 miles) per hour, "it was an exceptionally wide storm, measuring 1,800 kilometres in diameter – one-and-a-half times as big as Texas – so that the losses extended over a vast area," Munich Re said.

The second major loss event of 2012 was the summer-long drought in the US that plagued the Corn Belt in the midwest, where most of the US's main agricultural crops, corn and soybean, are grown, Munich Re said.

Nearly half of US arable acreage was hit and overall agricultural crop losses in the US in 2012 totalled around $20 billion, "making it the biggest loss in US agricultural insurance history."

In average years, insured losses are around $9.0 billion.

The head of Munich Re's Geo Risks Research, Peter Hoeppe, said Hurricane Sandy and the drought "clearly demonstrate the type of events we can expect to contend with more often in the future."

It was not possible to attribute individual events to climate change, he noted.

"However, numerous studies assume a rise in summer drought periods in North America in the future and an increasing probability of severe cyclones relatively far north along the US East Coast in the long term."

The rise in sea level caused by climate change would further increase the risk of storm surge.

Munich Re board member Torsten Jeworrek said that the heavy losses caused by weather-related natural catastrophes in the US showed that greater loss-prevention efforts were needed.

"It would certainly be possible to protect conurbations like New York better from the effects of storm surges. Such action would make economic sense and insurers could also reflect the reduced exposure in their pricing," Jeworrek said.

AFP/jcw

The Local (news@thelocal.de)

Your comments about this article

07:03 January 4, 2013 by anaverageguy
"However, numerous studies assume a rise in summer drought periods in North America in the future and an increasing probability of severe cyclones relatively far north along the US East Coast in the long term."

Numerous studies "assume"? How very scientific.

You know, you can look at a snapshot of me now.... and I hardly look anything like I did then..... it doesn't mean anything unnatural is happening.
Today's headlines
Forest tragedy as best man kills groom-to-be
File photo: DPA

Forest tragedy as best man kills groom-to-be

A family outing turned into tragedy on Monday, when a best man in Thuringia accidentally killed the groom-to-be just days before his wedding. READ  

Slash CO2 emissions to save oceans: scientists
A humpback whale breaching. Photo: Wwelles14/Wikimedia Commons

Slash CO2 emissions to save oceans: scientists

German scientists said on Monday that carbon dioxide (CO2) emissions must begin falling immediately if mankind is to have any hope of preserving Earth's oceans as we know them today. READ  

Weekend heatwave to follow Tuesday showers
Sun shining through an apple tree in Düsseldorf. Photo: DPA

Weekend heatwave to follow Tuesday showers

Germany can expect a cooler Tuesday with heavy showers in the west of the country before returning to high summer conditions over the weekend, the German Weather service said. READ  

Merkel's office hunted journalists' sources
Photo: DPA

Merkel's office hunted journalists' sources

The scandal around an investigation into journalists reporting on classified information deepened on Tuesday as new information showed that officials from the Chancellery and the Interior Ministry tried to uncover reporters' sources. READ  

'Hot Boy from Germany' wins Vietnam Idol
Image: Fremantle Media/YouTube

'Hot Boy from Germany' wins Vietnam Idol

A 22-year-old from Hanover has become the latest winner of Vietnam Idol – bagging $27,000 along with his new title. READ  

Man promises to stop coffin naps in public
If you want to rest in place while you're still alive, a car park isn't the place place to choose. Photo: DPA

Man promises to stop coffin naps in public

When a man walking his dog alerted police to the fact that a black coffin was lying in the middle of a public parking place, the cops were surprised to find someone inside. READ  

Court orders boss to pay worker for changing
Photo: Pixabay

Court orders boss to pay worker for changing

A mechanic from western Germany is set to receive €350 in back payments – after claiming he should be paid for the time he spent showering and getting dressed for work. READ  

In Pictures
Wacken festival draws metalheads of the world
A reveler at Wacken Open Air 2015. Photo: DPA

Wacken festival draws metalheads of the world

Armies of black-clad fans gathered for the world's biggest heavy metal festival between Thursday and Saturday, marking 25 years of headbanging fun in the small town of Wacken in northern Germany. READ  

Railway sunbather brings trains to a halt
Photo: DPA

Railway sunbather brings trains to a halt

A plucky sunbather brought train services in North Rhine-Westphalia to an abrupt halt at the weekend - after deciding to catch some rays on the tracks. READ  

Spiegel: Merkel wants fourth term in power
Angela Merkel. Photo: DPA

Spiegel: Merkel wants fourth term in power

According to Germany's most influential political magazine, Spiegel, Angela Merkel has decided to run for a fourth term in power and has already started talks on who will run her campaign. READ  

RECEIVE OUR NEWSLETTER AND ALERTS
Business & Money
Start-up helps new Berliners short cut bureaucracy
National
The 1,000s of Germans massacred after the Second World War
Sport
Germany star scores own goal with PR gaffe
Features
'Women-only' parking: sensible or sexist?
Politics
Satire and reality blur in parody party's strife
National
13-year-old boy detained for trying to join Isis
Culture
Berlin restaurant serves up Greek Crisis Menu
Rhineland
Doctor on trial after woman wakes in morgue
Society
Six odd things Germans do in the summer
Sponsored Article
Outsourcing drives Apreel's Europe growth
Society
Police bust kinky Bavarian couple over painful love-making
Politics
Merkel brings Palestinian girl to tears
Hamburg
Amateur archaeologist finds Nazi gold hoard
National
Could Merkel learn a lesson in love from this doppelganger?
Travel
Why you should stay in Germany for the summer holidays
Sport
German press tell Schweinsteiger 'good riddance'
National
Hamburg gets a bouncing 100kg baby girl
Society
In North Germany, money sometimes DOES grow on trees
National
Hero mechanics stop Bavaria shooting spree
International
Denmark says that border controls are coming
National
Did hackers take control of German missile battery?
Politics
Munich gives gay pride green light
Business & Money
Berlin rent controls hit prices hard
National
Fighting to breastfeed in public without shame
Society
Ice cream for dogs 'gobbled up in one gulp'
Education
Are hotpants a feminist issue?
Rhineland
Lion cub reunited with mother
National
How the heatwave is cracking Germany's Autobahns
International
Why the French are more sympathetic to Greece than the Germans
Sponsored Article
Crans-Montana: International expat hub
Gallery
Police seize pensioner's WW2 heavy weapons haul
National
How to survive the Europe-wide heatwave
Sport
Is Schweini already out of the door at Bayern?
Politics
How German media shaped the Greece crisis
National
Car assembly robot crushes worker at Volkswagen
Rhineland
Weathermen red-faced over heatwave snow warning
Society
An eye for an eye? Mum protects child in playground with pepperspray
National
As it happened: Queen Elizabeth's final day in Germany
National
As it happened: Queen Elizabeth's second day in Germany
National
Queen Elizabeth II's first day in Germany - as it happened
National
Bus passengers tell fake racists where to get off
Latest news from The Local in Austria

More news from Austria at thelocal.at

Latest news from The Local in Switzerland

More news from Switzerland at thelocal.ch

Latest news from The Local in Denmark

More news from Denmark at thelocal.dk

Latest news from The Local in Spain

More news from Spain at thelocal.es

Latest news from The Local in France

More news from France at thelocal.fr

Latest news from The Local in Italy

More news from Italy at thelocal.it

Latest news from The Local in Norway

More news from Norway at thelocal.no

Latest news from The Local in Sweden

More news from Sweden at thelocal.se

7,099
jobs available
Toytown Germany
Germany's English-speaking crowd