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Natural Catastrophes Caused Insured Losses Of $80B In 2018

Law360, London (January 8, 2019, 7:51 PM GMT) -- Insured losses due to natural catastrophes such as floods and wildfires in 2018 remained high at $80 billion worldwide but below the record $140 billion of the year before, according to a report issued Tuesday by Munich Re.

The German insurer said in its latest natural catastrophe review that extreme storms, wildfires and droughts caused a total $160 billion in overall losses worldwide last year, of which $80 billion was insured.

The insured loss statistic remains well above the 30-year average of $41 billion, according to the report, but below the insured losses of 2017, which were due mainly to record...

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