Natural catastrophes killed more than 20,000 people and cost more than $134 billion worldwide in 2013, far below the average of the last decade, according to a report released Tuesday by Munich Re, the world’s largest reinsurance firm. In Canada, the flooding in southern Alberta in June was the costliest natural disaster in Canadian history, with $6 billion in losses. In the end, everyone ends up paying for natural disasters, said Peter Höppe, head of Geo Risks Research at Munich Re.
The Star reported last year that Toronto’s catastrophic storm in July would likely to lead to higher insurance premiums for homeowners in 2014. In poor countries where there is no insurance, natural catastrophes pose a risk to the country’s long-term economic performance.

While it’s impossible to prevent natural catastrophes, their impact can be lessened. Natural disasters, led by Super Typhoon Haiyan in the Philippines and flooding in Europe, cost a total of $125 billion (92 billion euros) in 2013, German reinsurance giant Munich Re estimated on Tuesday.
Find the latest research papers presented in the most recent conferences and workshops of the 2014 LACEA networks. COMMENTEMAILMOREFor the first time in two decades, the world's costliest natural disasters in 2013 were not in the USA, according to a report released today by Munich Re, the world's largest reinsurance firm. EST January 7, 2014For the first time in two decades, the world's costliest natural disasters in 2013 were not in the USA.Firefighters cut a tree with a chain saw to clear the street after a Dec.

Reinsurance helps spread risk, so the system can handle large losses from natural disasters.

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