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Disaster Losses Hit Record Levels in 2011

The disasters that plagued the globe this year will send 2011 into the record books as the most costly year for catastrophes on record.

Japan’s powerful tsnuami, earthquakes in New Zealand, floods in Thailand and a series of severe tornadoes in the U.S. all contributed to $350 billion in disaster losses, according to a new estimate from reinsurance company Swiss Re AG.

This will lead to increased property insurance rates in the upcoming years.

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