2009 Saw a Decline in Natural Catastrophes

According to an article on the BBC news website, Munich RE states that natural catastrophes caused less damage and claimed fewer human lives than the previous year. As compared to 2008 when there were an estimated $200bn in paid losses, 2009 saw a significant decline to approximately $50bn in paid losses for the year. The reinsurance giant stated that this was due to a significant decline in hurricanes this year. Of course, the company being based in Europe, a board member couldn't resist commenting on the lack of significant progress on climate change policy at the Copenhagen summit this past year. Interesting, there were fewer natural catastrophes, such as hurricanes, yet many still cling to the "climate change" canard. I know I spent allot of time pondering it as I was digging out from the recent snowstorm.

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