A.M.BestTV: 2014 Was a Surprising Year for Natural Catastrophes

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FOR IMMEDIATE RELEASE

OLDWICK - JANUARY 30, 2015 12:41 PM (EST)
This ^A.M.BestTV episode examines the recent storms in Japan, Belgium, Germany and the United States, as these top the list of 2014's largest insured losses, according to a reinsurer's new report. Additionally, a series of winter storms drove up claims, with the most damaging storm being in India.

Carl Hedde, head of risk accumulation at Munich Re America, found 2014 to be a very interesting year for natural catastrophes.

"Although there was a late start to the 2014 tornado season, tornado activity was quite high, as it and storm losses were $12.8 billion," said Hedde. "2014 also represents the fourth highest total losses on record, and is the fifth consecutive year that this number exceeded $10 billion."

However, 2014 was not that great a year in reference to the size of global losses, when compared with the 10-year average. Last year had $110 billion in economic losses and $31 billion in insured losses, while the 10-year average was $190 billion and $58 billion, respectively, according to Munich Re. Munich Re recently released its annual review of losses caused by natural catastrophes in 2014.

Also appearing in this episode:

• Ted Gregory, manager at Property Claims Services.

Click here to view the entire video program: http://www.ambest.com/v.asp?v=cats115.

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^A.M.BestTV covers exclusive A.M. Best information and reports, targeted topics and key developments in the (re)insurance industry every Monday, Wednesday and Friday. Sign up for alerts of episodes at http://www.ambest.com/multimedia/ambtvsignup.html. View ^A.M.BestTV episodes at http://www.ambest.tv.

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