Record cost for natural disasters in 2011. - The number of loss-relevant events recorded last year by the world's leading insurer, Munich Re, numbered 820. Damages worth $380 billion were caused, far higher than in 2005, the year when hurricane Katrina caused the most ever damages to insurance and reinsurers. In 2010, total damages rose to $152 billion for 920 disasters. The damages assumed by insurers and reassurers also reached a record level in 2011: 105 billion as opposed to 101 billion in 2005 and 42 billion in 2010. Of the recorded natural catastrophes 90% were weather-related last year but the insured losses stemming from geophysical events were even more significant. Munich Re says this is exceptional and explained that geophysical events accounted for just under 10% of insured losses over the past three years. The earthquakes in Japan and New Zealand accounted for two thirds of the total cost. Geographical distribution is also untypical, with 70% of losses in Asia. Without even taking into account the nuclear accident at the Fukushima plant, Japan was the most costly theatre of natural disasters of all time with $210 billion in damages. The floods in Thailand will now cost the insurance industry $10 billion. In the US, the tornado season was particularly violent and left insurers having to cover $25 billion in damages. As a consequence of these natural disasters, the human cost was once again very high in 2011, with 27,000 deaths, without even counting the huge numbers of victims due to the famine that struck in the Horn of Africa, explained Munich Re. (IL/transl.fl)