Cat study released.While North America North America, third largest continent (1990 est. pop. 365,000,000), c.9,400,000 sq mi (24,346,000 sq km), the northern of the two continents of the Western Hemisphere. only experienced 13.6 percent of the total number of natural catastrophes that took place throughout the world in 2005, it suffered 87.1 percent of the worldwide total insured losses of $83.40 billion, according to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. research by Swiss Reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. Co. Swiss Re Swiss Re is the world’s largest reinsurer, now that it has acquired GE Insurance Solutions (Ligi 2006). Founded in 1863, Swiss Re now operates in more than 30 countries. General Electric owns 8.9% of the firm. said that during 2005, 92.4 percent of all fatalities from natural disasters occurred in Asia, but only 3.2 percent of the worldwide insured loss total from natural catastrophes occurred there. Last year was the costliest ever for insurers from natural and manmade disasters, with insured property losses of $83 billion, up from about $48 billion the previous year. Of that total, Hurricane Katrina alone caused insured losses of $45 billion. |
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