2010 Q1 insured natural disaster losses highest since 1994

Insured natural catastrophe losses in 2010 Q1 totalled $9.5 billion, the highest since 1994 Q1.Insured damages in 2004 Q1 reached $26.4 billion (in 2010 dollars) when the Northridge (U.S.) earthquake occurred, reports the Insurance Information Institute.Total insured losses arising from natural catastrophes in 2009 Q1 equalled $7.2 billion.The 2010 Q1 results reflect the earthquake and tsunami in Chile and winter storm Xynthia in Europe. Overall losses for the quarter totalled $34.7 billion.Other significant events contributing to the total included:•winter storms between Feb. 9 and Feb. 14 in Canada and the United States that resulted in $800 million in losses, $560 million of which are insured losses;•a hailstorm and severe storms in Australia on Mar. 6-7 that resulted in $1.2 billion in damages, $780 million of which were insured losses; and •a cold wave between Jan. 7 and 12 in the southern, southeastern and midwestern regions of the United States that resulted in $800 million in losses, $160 million of which were insured.