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Natural catastrophes have already produced around $265 billion in economic losses in 2011, of which nearly $60 billion were insured, according to Munich Reinsurance Co.
The earthquake and tsunami in Japan alone account for around half of the insured loss total, and other events have also generated significant insured losses.
To see a slideshow of the five costliest events so far in 2011, click here.
NEW YORK—Catastrophes worldwide caused an unprecedented $260 billion in economic losses during the first half and $55 billion in insured losses, Munich Reinsurance Co. and the Insurance Information Institute Inc. said Tuesday during a webinar.