Year in Review: Catastrophe Losses Not What You Thought in 2012

When the word “catastrophe” is used in relation 2012, several different events come to mind: Superstorm Sandy; Hurricane Isaac; many tornadoes; rampant wildfires all around the south, west, and central US; and severe flooding in many areas.  Naturally, the thought of all of these weather-related disasters would seemingly correlate to millions–or billions–of dollars in losses, both overall and insured.  And that’s correct.  But what may be surprising is that 2012, although record setting in many ways, did not top any lists when it came to loss amounts. Continue reading