The Raising Cost of Catastrophes
Daily chart: The amount of insured losses in 2012 exceeded $77 billion, making it the third costliest year since 1970. Losses from man-made disasters amounted to $6 billion. The sum includes the partial sinking of the Costa Concordia cruise ship, fires at offshore drilling platforms in Nigeria and the North Sea, and an explosion at a Venezuelan oil refinery. View today’s chart on insured losses since 1970 https://econ.st/XHjExh
Do politicians eyeball every catastrophe as a money maker ?
