Hurricane phase expected to last for another 10 to 30 years

At US$83bn in 2005 (compared with $48bn the year before), insured catastrophe losses take on a new dimension

According to the latest Swiss Re sigma statistics, last year has proved to be the costliest year ever for property insurers. The sigma report lists 400 natural and man-madecatastrophes, which it says caused damage totalling more than US$230bn. This includes damage to buildings, infrastructure, vehicles, or losses to directly affected businesses.