Often when we think of Crisis Management we envision large scale disasters like School Shootings, Tornados, Hurricanes or other catastrophic events putting lives and property at risk. While these are all potential, in the insurance world they are considered less likely or carry a lower degree of probability. With that said we have seen a major uptick in all three along with a higher degree of probability related to significant weather events that have produced a new normal as indicated in a recent study conducted by Munich Re, leading experts on risk solution worldwide based in Germany:
October 22, 2012 - A new study by Munich Re shows that North America has been most affected by weather-related extreme events in recent decades. The publication "Severe weather in North America" analyzes all kinds of weather perils and their trends. It reports and shows that the continent has experienced the largest increases in weather-related loss events.
For the period concerned – 1980 to 2011 – the overall loss burden from weather catastrophes was US$ 1,060bn (in 2011 values).The insured losses amounted to US$ 510bn, and some 30,000 people lost their lives due to weather catastrophes in North America during this time frame.