Global insurance industry pays more than $30 billion in cat claims: Swiss Re

The cost to the global insurance industry from natural catastrophes and man-made disasters was $36 billion in 2010, according to Swiss Re. This is an increase of 34% over $27 billion in overall insured losses in 2009. Natural catastrophes accounted for roughly $31 billion of the total, with man-made disasters triggering the other $5 billion, according to Swiss Re sigma. Eight events in the first 11 months of 2010 each triggered insurance losses in excess of $1 billion.The February earthquake in Chile was the costliest event in 2010 at $8 billion, according to preliminary estimates.