Disaster claims 'less than $10bn'
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Insurers seek to calm fears that they face huge losses after an earthquake and giant waves killed at least 23,000 people in southern Asia.
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Â· Up to Â£250m a year needed, say insurersÂ· Three dead and hundreds evacuated from homes.
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Chicago - Insured losses from Hurricane Charley could be between $10 billion (R66 billion) and $14 billion, according to industry estimates released as insurers received thousands of claims from Florida.
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The tsunami catastrophe in south Asia is likely to have wreaked economic damage of more than 10 billion euros ($13.6 billion), compounding what
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Governments, aid agencies, insurers and travel firms are counting the cost of the massive earthquake and waves that hammered southern Asia.
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As rescue efforts swung into high gear in areas devastated by tidal waves around the Indian Ocean, economists said the impacton most of the regionâs economies was unlikely to be severe despite the stunning human cost of the tragedy.
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NEW YORK - The devastation in southern Asian areas hit by tidal waves this weekend had far less of an economic impact than it might have, given the extreme poverty of many of the regions.
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Insurers could face a Â£350m bill for damage caused by storms that lashed the UK in January, experts say.
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LONDON (CBS.MW) -- Munich Re, the world&#39;s largest reinsurer, expects its costs arising from Sunday&#39;s devastating South Asian tsunamis to total less than 100 million euros, or $136 million.
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Insured losses in the United States from Hurricane Ivan, which was roaring toward the US Gulf coast on Wednesday, could run between $4 billion and $10 billion, a risk assessment company said.
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The Asian earthquake and tsunami catastrophe has unleashed financial damage in the tens of billions of dollars but foreign insurers will get off lightly, according to a top US industry body.
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Major reinsurers will face new costs after the catastrophe caused by the tsunamis in southern Asia, though experts say the financial impact is likely to less than that of other disasters this year.
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Hurricane Charley, the worst storm to hit the US in over a decade, will cost insurers just $7.4bn, one insurance expert estimates.
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International organisation and countries are poring in relief and over $500 million have already been pledged. This includes $250 million for tsunami relief offered by the World Bank on Thursday.
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Insured losses in the United States from Hurricane Ivan are expected to hit $4 billion to $10 billion US, analysts estimated on Thursday.
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Natural disaster's devastation didn't move far enough inland to harm technology enterprises.
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Losses to insurers from natural disasters nearly doubled this year to just below $30 billion globally after an unusually quiet 2006, a leading reinsurer said Thursday, from winter storms in Europe, flooding in Britain and wildfires in the U.S.