Record Drought + Hurricane Sandy: U.S. Top 2012 Insurance Losses

posted by Jael Ever @ 3:11 AM
July 28, 2013

Jan82-2        While, compared to 2011 losses,  international insurance rates were lower last year, losses in the United States in 2012 topped those of any other country.  Munich Re insurance statistics find that 67% of the world’s losses were in the U.S.

Munich Re’s report on 2012 catastrophes estimates:  “With regard to the 2012 loss statistics, Hurricane Sandy alone accounted for some US$ 50bn in overall losses, while the insured losses are expected to be around US$ 25bn.”

The international insurance report says further:  “The second major loss event of 2012 was the summer-long drought in the USA that plagued the Corn Belt in the Midwest and surrounding states, where most of the USA’s main agricultural crops, corn and soybean, are grown.” 2012 was the hottest U.S. year since 1895:

“Only in the Dust Bowl years, from 1934–1936, had yields been decimated by a worse drought.  Nearly half of the USA’s arable acreage was hit by the 2012 event. The overall agricultural crop losses in the USA in 2012 totaled around US$ 20bn . . . making it the biggest loss in US agricultural insurance history.”

Prof. Peter Höppe, Head of Munich Re’s Geo Risks Research, advises that Climate Change (i.e. Global Warming) will continue to bring such devastations: “These two catastrophes clearly demonstrate the type of events we can expect to contend with more often in the future. . .

“ . . . numerous studies assume a rise in summer drought periods in North America in the future and an increasing water-destruction-coastprobability of severe cyclones relatively far north along the US East Coast in the long term.”

Because “The rise in sea level caused by Climate Change will further increase the risk of storm surge,” Munich Re advises cities and states along the East Coast of the U.S. to be better prepared for such wreckage.

It is of course shameful that German record keepers must advise the U.S.––reportedly the richest country in the world––to be better prepared for nature’s destruction.  Is that because this nation’s leaders ‘ignore’ Global Warming?

Is it chance that such reports get little attention in U.S. media, which also failed to acknowledge  that in 2012 Typhoon Bopha killed over 1,000 people in the Philippines?  Why do so few American’s know we broke disaster records last year?

The media are the country’s watchmen.  Wholesale Christian books in Isaiah 21: 6: instruct “ . . . Go, set a watchman, let him declare what he seeth.” Media must break its hold from the government’s or further judgment will come.

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