Webinar – 2011 Half-Year Natural Catastrophe Review

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2011 Half-Year Natural Catastrophe Review

12 July 2011

Running time: 47 minutes

Munich Re and the Insurance Information Institute jointly present an overview of natural catastrophe activity for the first six months of 2011.

About this event

An exceptional accumulation of very severe natural catastrophes, including Earthquakes in Japan and New Zealand, tornadoes and flooding in the US and flooding in New Zealand, make 2011 the highest-ever loss year on record, even after the first half-year.

Consider

  • Globally, the approx. US$ 265bn in economic losses up to the end of June exceed the total figure for 2005, previously the costliest year to date (US$ 220bn for the year as a whole). Even without the earthquake in Japan, which contributed heavily to the overall figure ($210bn), overall losses still exceed the 10-year average.
  • Insured losses total US$ 60bn, more than double the first-half amount from 2010 and over four times the 10-year average
  • In the US, 100 events produced US$27 bn in overall losses and US$ 17.5bn in insured losses, both results well above the 10-year averages (US$ 11.8bn/US$ 6.6bn).

Webinar topics

  • Overview of US natural catastrophe activity including an update on “local” severe-weather events and their impact on insured losses
  • Overview of global catastrophe activity including major global events and a comparison of first half activity with prior years
  • Economic implications of US natural catastrophes for the first half of 2011
  • Discussion of impacts on global insurance and reinsurance markets

Presenters/Agenda

Carl. G. Hedde.
US Catastrophe Update:
Carl G. Hedde, CPCU
Head of Risk Accumulation Munich Reinsurance America, Inc.
Prof. Dr. Peter Höppe. Global Catastrophe Update:
Prof. Dr. Peter Höppe
Head of Geo Risks Research/Corporate Climate Center, Munich Re
Robert P. Hartwig.
Economic Implications:
Robert P. Hartwig, CPCU
President & Economist, Insurance Information Institute

In the US, Munich Re provides access to a full range of property-casualty reinsurance and specialty insurance products through Munich Reinsurance America, Inc., American Modern Insurance Group and Hartford Steam Boiler Group. Together, we deal with the issues that affect society and work to devise cutting-edge solutions that render tomorrow’s world insurable. Munich Reinsurance America, Inc. has been successfully addressing the key challenges of the future for over 100 years. Our clients trust us to develop solutions for the whole spectrum of reinsurance – from traditional reinsurance agreements to the management of complex specialty reinsurance risks. Our recipe for success: we anticipate risks early on and deliver solutions tailored to clients’ needs, creating opportunities to achieve sustained profitable growth.

The Insurance Information Institute (I.I.I.) is a nonprofit, communications organization supported by the insurance industry. Its mission is to improve public understanding of insurance – what it does and how it works. For nearly 50 years, the I.I.I. has provided definitive insurance information. Today, the I.I.I. is recognized by the media, governments, regulatory organizations, universities and the public as a primary source of information, analysis and referral concerning insurance.

Contact

For press information, please contact
Terese Rosenthal
Phone: +1 609 243-4339


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