Worldwide economic losses from disasters climbs to a record $350B in 2011 from $226B in 2010,...

|By:, SA News Editor

Worldwide economic losses from disasters climbs to a record $350B in 2011 from $226B in 2010, due to the earthquakes in New Zealand and Japan, the floods in Thailand, and severe storms in the U.S., Swiss Re (SWCEY.PK) says. The insurance industry's losses were far lower at $108B, up from $48B in 2010.