ZURICH (Reuters) - Damage costs from natural catastrophes and man-made disasters fell 16 percent in the first half of 2013 to $56 billion, preliminary data from Swiss Re showed on Wednesday, despite June's heavy flooding in Europe.
Global insurers covered $20 billion of the costs, with natural catastrophes, such as the European floods and U.S. tornado damage, accounting for $17 billion of claims, and man-made disasters - such as industrial accidents - $3 billion.
Insured flood losses hit $8 billion in the first half, which makes 2013 the second most expensive year already in terms of flood claims. Claims related to the 2011 Thai floods were $16 billion, Swiss Re said.
Insured losses from floods peaked in Canada at $2 billion due to rain and flooding in Alberta in June.
Last year, the world's No. 2 reinsurer said the insurance industry should team up with government agencies to help provide suitable flood protection and offset financial risk.
(Reporting by Martin de Sa'Pinto; Editing by Louise Ireland)
Wife of US Pastor Held in Iran: 'I Never Thought I’d Have to Battle My Own Gov't For My Husband’s Freedom' | Leah Barkoukis
Politifact: On Second Thought, Obama's 'Keep Your Plan' Pledge is 2013's 'Lie of the Year' | Guy Benson
Conservatives Clash as House Prepares to Vote on Ryan-Murray Budget Deal -- UPDATE: House passes 332-94 | Guy Benson
New White House Push: Sign Up For Obamacare Because It Will Give Your Mother "Piece of Mind" | Daniel Doherty
Heartbreaking: Dad Gives Up Trying to Obtain Health Insurance For His Ailing Son on the Exchanges | Daniel Doherty