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Largest Insurance Claims of All Time

Most Expensive Insurance Claims of All Time

Largest Insurance Claims of All Time

Insurance is a necessary expense that we might not like to pay, but when our property and belongings suffer unforetold damage, it is consoling to know that we have the safety net of getting reimbursed for such losses.

Irish-based insurance company Balcombes Claims Management (http://www.balcombes.ie/) has put together this infographic highlighting the most expensive insurance claims ever made. Some are comparatively light-hearted – for example, English actor Rowan Atkinson wrote off his sports car, which was rather ironic given the type of vehicle that is associated with Mr. Bean, his best-known TV character. Others, sadly, arose from some of the most appalling tragedies of modern times.

The worldwide financial crisis of 2008 saw thousands of businesses go bankrupt and caused a massive global increase in unemployment. It also prompted an estimated total insurance payout of nearly $22trillion from a large number of claims. On a far more sombre note, the 9/11 attacks in the USA, which left New York in ruins, claimed more than 2,000 lives and resulted in insurance payouts to the tune of $40billion.

In a similar vein, other 21st century disasters have required substantial insurance claims for those who survived. For instance, the 2004 Indian Ocean tsunami killed more than 227,000 people and led to roughly $1.6billion in insurance claims. Also, the hurricanes that struck North America the following year left $130billion worth of damage to locations such as New Orleans, which was decimated in the wake of Hurricane Katrina.

This infographic is sure to be of interest to any website or company dedicated to the insurance or finance industry. In fact, it would probably be a thought-provoking read for the general public, seeing as the insurance payouts mentioned were so vast and how unforeseen disasters on an extreme scale can spark such enormous claims.

Click the pages below to reveal the 10 most expensive insurance claims of all time.