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Global disasters cost $435B in 2011

Posted On Fri, January 13, 2012

A recent study from Aon Benfield showed a spike in worldwide disasters during 2011 cost as much as $435 billion.

In total, $107 billion of that cost was insured, according to the Annual Global Climate and Catastrophe Report for 2011, which was published by Impact Forecasting. Overall, the top-10 disasters around the world during the year comprised more than 80 percent of the total damage costs.

"The most fatal, destructive and costly natural disasters of 2011 impacted countries in North and South America, Asia, Europe, Australasia and Oceania," said Stephen Mildenhall, chief executive officer for Aon Benfield Analytics. "Total insured losses were over two and a half times the losses from 2010 - which in turn were almost double the losses from 2009."

No matter where a consumer lives, it is likely there is some sort of natural disaster that can damage their home. It is important to keep in mind many plans don't cover these incidents outright, so it may be necessary to compare home insurance quotes to find the right plan.

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