Last year's natural disasters, from the earthquake in Japan to the storms in the U.S., cost the...

|By:, SA News Editor

Last year's natural disasters, from the earthquake in Japan to the storms in the U.S., cost the global economy a record $370B, Swiss Re says. The insurance industry took a hit of $116B, more than double 2010 and the second-largest ever. Had the Japanese had better insurance, the figure would have been much higher.