Sigma 2/2013: natural catastrophes and man-made disasters in 2012

Hurricane Sandy, contingent business interruption and community resilience were on the minds of re/insurance industry representatives at the sigma 2/2013: natural catastrophes and man-made disasters in 2012 event at the Swiss Re Centre for Global Dialogue.

More than 100 clients, brokers and industry experts participated in the sigma natural catastrophes and man-made disasters in 2012 event on 26 March at the Swiss Re Centre for Global Dialogue in Zurich. Hosted by Swiss Re Europe, Middle East & Africa CEO Jean-Jacques Henchoz, the annual event provides the participants with an exclusive opportunity to get a preview of Swiss Re's renowned sigma publication on worldwide catastrophes, as well as hold an open dialogue on the risks the industry faces as a results of these events.

The year 2012 was dominated by large scale and extreme weather events - mainly in North America. According to the latest sigma study released on 27 March, the 318 registered catastrophes claimed 14,000 victims and resulted in losses in excess of USD 186 billion, of which USD 77 billion were insured losses.

"2012 was third-highest year in losses in record," said Mr Henchoz. "These staggering figures tell us that large nat cat events are becoming more frequent and severe and that we need to adapt to the realities of climate change. They also tell us that  - as an industry - we play an essential role in post-disaster relief and that we must continue establishing public private partnerships to help close the protection gap in both emerging and matured markets."

The sigma natural catastrophes and man-made disasters in 2012 event included a series of expert presentations, as well as a panel discussion involving clients and brokers.


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