Re­cent sig­nif­i­cant global events

Insurance - - CII COLUMN -

The erup­tions in 2010 and 2011 of the Ey­jaf­jal­la­jokull vol­cano in Ice­land caused lit­tle phys­i­cal dam­age to in­sured prop­erty, but still led to sig­nif­i­cant dis­rup­tions and de­lays in the trans­port of goods and ser­vices into and out of Europe. Earth­quakes in New Zealand caused much of the city cen­tre of Christchurch to be closed to busi­ness. In Fe­bru­ary 2011, Cy­clone Yasi swept across Queens­land, Aus­tralia, de­stroy­ing large ar­eas of agri­cul­ture and with con­se­quences for food pro­ces­sors and cus­tomers world­wide. In March 2011, the Ja­panese tsunami and sub­se­quent prob­lems with the Tepco nu­clear plant caused dis­rup­tion to busi­nesses in the re­gion. In April and May 2011, a se­ries of dev­as­tat­ing tor­na­does swept through the south­ern and mid-west US. In July 2011, the Thai floods caused havoc to the busi­ness and man­u­fac­tur­ing heart of the coun­try, se­verely dis­rupt­ing many busi­nesses that had re­lo­cated from Ja­pan.

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