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An Average cost of 2.6 million USD for major industrial losses between 2009 and 2013

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Magazine Issue: 
Insurance supervision [3]
Magazine date: 
Jul 2014
The latest report of Allianz Global Corporate & Speciality (AGCS) on the global state of losses has shown that the average cost of a major industrial loss for the period 2009-2013 has amounted to 2.6 million USD, for a grand total of 29.6 billion USD of compensation.
© Alexander Novarro [4], CC BY-SA 3.0 [5]

Ten causes of losses would be accountable for 70% of the grand total.
In this Top 10, established on the basis of more than 11,400 claims in which Allianz is involved, are the following categories:

  1. Grounding
  2. Fire
  3. Plane crash
  4. Earthquake
  5. Storm
  6. Bodily injury
  7. Flood
  8. Professional indemnity
  9. Product defects
  10. Machinery breakdown

Note that in the first months of the current year, the top ten major events (excluding natural disasters) have totalized 2.3 billion USD of losses, with four of them not yet estimated, nor recorded.
The Tripoli airport attack alone represents a third of this total with a cost of 750 million USD.

* industrial loss higher than 106,000 USD

Fri, 12/09/2014 - 16:10

Source URL: https://www.atlas-mag.net/en/article/an-average-cost-of-26-million-usd-for-major-industrial-losses-between-2009-and-2013

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