Insurers’ losses US$45 billion

(Canadian Press): Insurers’ losses from natural disasters rose by about 50 per cent in 2008 over 2007, with Caribbean hurricanes Ike and Gustav powering the increase and climate change increasingly a factor, a leading reinsurer said Monday. Munich Re AG said in an annual review that the industry’s insured losses totalled US$45 billion this year, up from nearly $30 billion in 2007. Go to article