In the fifties some 20 major natural catastrophes were registered, causing damage amounting to US$ 40.7 billion. Between 1991 and 2000 some 84 major catastrophes caused damage amounting to US$ 591 billion. At the beginning of the period of comparison, the fifties, major catastrophes were not insured against.  In the sixties, the insured damage from such catastrophes amounted to US$ 7 billion, or 9.58% of the economic damage. In the nineties the insured sum for such catastrophes already amounted to US$ 104.4 billion, representing 17.66% of the economic damage. The reasons for this were the increased extent of industrial areas and the demand for greater cover against natural forces.

Austria, too, is following the international trend. The main natural forces encountered here are hailstorms and storms, and to a lesser extent floods and drought. The major damage occurs mostly to buildings and motor vehicles, and also in agriculture.

Source : Münchener Rück Topics 2000