Page 27 - Insurance Times June 2019

AOG PERILS OF

CYCLONES AND

METHODS OF

MEASURE IMPACTS

he Acts of God perils of cyclones, storms,
Year Storm Losses US$ BLNS
T various names are the NAT CAT Perils which have 2008 Number Amounts
typhoons, tornadoes, and hurricanes as called by
44.69
137
caused highest number of events with highest
2009 133 23.35
amounts of insured losses as per SIGMA Reports of Swiss
2010 167 39.87
Re from the years 2007 to 2017. Out of NAT CAT Events
caused by earthquakes, tsunamis, volcanic eruption and 2011 175 110.02 44.71% of Earthquake
storms number of events are with higher frequencies, Losses
increasing severities and maximum amount of Insured 2012 168 71.28
losses since 2007 to 2017 as under:
2013 150 37.05
2014 189 27.75 60% to 88% Storms
Year Storm Losses US$ BLNS
Losses
Number Amounts
2015 168 27.79
2007 142 23.27 60% to 88% Storms
2016 191 45.94
Losses
2017 183 138.06
About the author In the year 2009, the Month of March has witnessed Four
Mega Events of Cyclones / Rainstorms causing damages to
K. L. Naik
property and loss of lives on a very large scale.
Director Naik Consultancy &
- Cyclone Bomb in North western USA, 9th March onwards.
Advisors L.L.P
Mumbai - Cyclone Veronica in North Western Australia, since 12th
March.
The Insurance Times, June 2019 27