ABSTRACT
According to calculations by the reinsurer Munich Re, there were 950 natural disasters in 2010, with approximately 295,000 fatalities. The damage amounts to over 130 billion US$. The year 2010 was an “absolutely catastrophic year” and a strong indicator of the progress of climate change (Munich Re, 2011). Not all disasters are climate-related, for example earthquakes and tsunamis. However, climate-related loss events such as storms, floods, heat waves, and others as listed by Munich Re, are increasing constantly in number and severity.
