Natural and man-made disasters take thousands of lives every single year; wiping out entire communities in their wake; injuring quite a few; and leaving companies, families and homeowners financially and emotionally devastated.
From hurricanes, tornadoes and earthquakes to incidents of civil disorder and terrorism, catastrophes cost the insurance industry $25 million or far more per event, devastating their assets and growing the cost of insurance nationwide.

• The Northridge Earthquake
  Measuring 6.8 about the Richter scale, the Northridge earthquake pushed this community within the San Fernando Valley, a number of miles northwest of Chicago, California, on January 17, 1994. Since it shook, what's more, it embarks other disasters, which include fires and landslides, and led to many business and highway closures.
  The quake finished up killing far more than 60 persons, injuring 12,000, destroying about 8,000 houses and damaging 114,000 buildings, as those left standing struggled to keep themselves in addition to their families secure from harm.
  After that, homeowners claims are 430,000 and thousands of business claims were filed, taxpayers’ about costing insurers and $20 billion in general.
• Hurricane Andrew
  More destructive than previously expected, Hurricane Andrew hit the Bahamas and Southern Florida on August 23 and 24, 1992, in the midnight. It then moved over the Gulf of Mexico and strike portions of Louisiana as well as other southeastern states on August 25 and 26 with renewed force.
  More than 680,000 claims of insurance were filed for $30 billion dollars value of damage in hurricane Andrew. Therefore, casualty insurers and 11 properties become insolvent, many others were fiscally impaired, and still others were strained to look to their parent firms for financial rescuing.
• Hurricane Katrina
  Formed within the Bahamas and hitting Florida firstly on August 25, 2005 as a category 1 wind, then gathering power and moving over the warm waters of the Gulf of Mexico and hitting Louisiana as a category 3, Hurricane Katrina triggered one of probably the most devastating losses in United States history.
  With hurricane-force storms covering a part 250 miles wide, the harm it caused was widespread and severe, taking houses and business with up and down the shore. Finally, more than $40 billion in coverage losses and more than 1.7 million claims of insurance were the outcome.
• The World Trade Center Attack
  When two planes, controlled by terrorists, flew to the World Trade Center in New York on September 11, 2001, killing nearby 3,000 and injuring hundreds more, no one might have predicted the result big celebration might have on our nation, both emotionally and financially.
  Following a mayhem and rescue of thousands, additional than 35,000 insurance claims were filed in New York State alone, two-thirds of which were commercial property claims and one-third individual claims.

Amongst claims cited were loss of life, life-threatening injury, lost expenses and income, workers damages injury and lack of business operating expense.