By Favour Nnabugwu, with agency report
The world over has experienced an estimated lose  of N19.5trillion ($130 billion) due to natural catastrophes in the last 10 years just as 2010 cost insurers N5.5trillion, according to Munich Re.

Specifically, the N5.55 trillion ($37 billion) cost of 2010 was above average wreckage and loss of lives from disasters such as earthquakes, storms etc as 950 natural catastrophes were recorded last year alone which made it the second-highest number since 1980 and far higher than the annual average of 785 during the past 10 years, the reinsurer said.

The February 2010 earthquake in Chile was the year’s most expensive natural catastrophe, resulting in economic damages of $30 billion and insured losses of $8 billion, whilst the earthquake that hit Haiti the previous month caused significant damage and loss of life, but generated only negligible insured losses.

The United States was spared hurricane damage last year despite an above-average number of storms, but hurricanes caused substantial damage in Mexico, Munich Re said. The most expensive was Hurricane Karl, which caused $150 million in insured losses.

Mr Peter Höppe, head of Munich Re’s Geo Risks Research unit, said global warming likely is a factor in storm activity. Warm ocean temperatures have provided ideal conditions for frequent and intense hurricanes, he said in the statement.

Höppe said: “That is in line with the trend of the past 30 years, in which all ocean basins show an increase in water temperatures. This long-term trend can no longer be explained by natural climate oscillations alone. No, the probability is that climate change is contributing to some of the warming of the world’s oceans.”

He explained that although the 2010 hurricane season appeared benign, there were 19 named tropical cyclones, 12 of which reached hurricane status. “The number of storms was indeed well above average. It is just that it is impossible to forecast whether and where such storms will make landfall.”

He further stated that “The global distribution of natural catastrophes was comparable to previous years. The American continent saw the most catastrophes with 365 last year, while 310 occurred in Asia. Europe experienced 120; Africa saw 90 and Australia/Oceania had 65. The most expensive event in Europe was Windstorm Xynthia, which caused $3.1 billion in insured losses, according to Munich Re. Flood is an overflowing or irruption of a great body of water over land not usually submerged.

It is an extreme weather event naturally caused by rising global temperature which results in heavy downpour, thermal expansion of the ocean and glacier melt, which in turn result in rise in sea level, thereby causing salt water to inundate coastal lands. Flooding is the most common of all environmental hazards and it regularly claims over 20,000 lives per year and adversely affects around 75 million people world-wide.

In Nigeria, the pattern is similar with the rest of world. Excluding droughts, almost 90 per cent of damages relating to natural disasters are caused directly or indirectly by floods. Record shows that more than 200 people have lost their lives to flooding while hundreds of thousands have been rendered homeless and properties worth billions of Naira have been destroyed as a result of devastating floods across the country

For instance, Nigeria’s President Jonathan recently approved N1 billion and N750 million respectively as Federal Government grants to Sokoto and Kebbi State Governments to alleviate the sufferings of victims of the flood disaster that ravaged the two states.

Mr Ima Niboro, Special Adviser to the President on media and publicity gave the hint in Abuja. He said: “The grants are to be expended on reconstruction of damaged roads, culverts and bridges; scour inspection and survey of piers and abutments of the severely eroded bridge across the Sokoto River; and urgent after-flood protection study of the affected areas”.

Across the globe, floods have posed tremendous danger to people’s lives and properties. Floods cause about one third of all deaths, one third of all injuries and one third of all damage from natural disasters.