Asia quake damage will exceed 10 billion euros: insurer
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The damage caused by the waves which swept coastlines in South Asia following a seabed earthquake is likely to exceed 10 billion euros(13 billion USD), an insurance expert said.
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The EU Commission has pledged up to &#x20AC;30m in emergency aid for victims of the disaster in southern Asia.
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German insurance and travel stocks such as Munich Re and TUI AG fell after the world&#39;s most powerful earthquake in 40 years struck Asia.
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BERLIN -- Munich Re, the world&#39;s biggest reinsurer, said Tuesday that the deadly Indian Ocean tsunamis likely will cost it less than 100 million euros ($136 million).
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Global warming will lead to heftier insurance claims in the long-term, insurer Swiss Re has warned.
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Allianz AG, Europe&#39;s largest insurer, said a New York court ruling that defined the World Trade Center terrorist attacks as two separate events may cost it as much as 80 million euros ($107.6 million).
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The world&#39;s largest reinsurer, Swiss Re, on Monday said that damage claims for natural disasters for the year were likely to nearly triple and cost the industry an estimated 35 billion dollars in 2007.
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Surging waves triggered by a huge earthquake strike several Asian  countries, killing more than 500 people.
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Pakistan will need at least 10 years to fully recover from the damage wrought by last year's devastating earthquake, a top United Nations official warned.
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LOS ANGELES  - The entertainment  industry Tuesday ramped up its response to the devastation in  Southeast Asia caused by last month's earthquake and tsunami.
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The world&#39;s fifth-largest quake in a century hit southern Asia on Sunday, unleashing a tsunami that crashed into Sri Lanka and India, drowning thousands and swamping tourist isles in Thailand and the Maldives.
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The strongest earthquake in 40 years claimed 10,000 lives on Sunday as tsunamis spread across the Indian Ocean, devastating coastal areas of Sri Lanka, southern India and Indonesia, as well as Thailand and Malaysia.
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Indonesian Vice- President Jusuf Kalla said on Monday the death toll from a tsunami that swept across the Indian ocean region could hit 10,000 in one area of his country alone.
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As many as 10,226 people were killed and thousands more were missing after the most powerful earthquake for 40 years triggered giant tidal waves that slammed into coastal areas across Asia.
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Huge casualties are reported from tidal waves and earth tremors in southern and eastern Asia.
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FRANKFURT: German insurance companies said Monday it was too early to assess the costs from the deadly tidal waves that battered South Asia at the weekend.
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The confirmed death toll from the Indian Ocean earthquake continues to rise, more than a week after the disaster.