Already Know? 7 Most Expensive Insurance Claims in the World

 These 7 most expensive insurance claims in the world will blow your mind. Despite the fantastic value, the 7 most expensive insurance claims in the real world exist. Quoted from several sources, here are the 7 most expensive insurance claims in the world:

1. 2008 Financial Crisis (GBP14 Trillion)

The 2008 financial crisis caused the UK and other countries to be severely affected. This crisis is the worst crisis that has occurred since The Great Depression in the 1930s. Where, many businesses are collapsing and causing the highest unemployment rate in history. This incident made the insurance company hit hard because it had to prepare funds for claims that reached GBP14 Trillion.

2. Typhoon 2005 (USD130 Billion)

The hurricane that occurred in North America is indeed one of the things that can make insurance companies in that country drain money every year. There were 4,000 people died as a result of this disaster. In addition, the insurance claims submitted reached USD130 billion for property damage such as houses and office buildings as well as life insurance claims and personal accident insurance.

3. Lehman Brothers Bankrupt (USD 100 Billion)

Some of the insurance claims submitted are indeed difficult to count, because they are included in the category of confidential data. The financial crisis marked by the bankruptcy of Lehman Brothers in 2008 is one example. It is estimated that claims arising from the fall of Lehman Brothers touched the figure of USD 100 billion, but it is also difficult to find solid evidence to confirm it.

4. The Tragedy of 9/11 2001 (USD 40 Billion)

The terrorist attack that occurred in 2001 became one of the events with the largest insurance claims in the world. In basic calculations, more than USD 40 billion must be paid for claims for property insurance, life insurance, and business interruptions.

5. 2011 Japanese Tsunami (USD40 Billion)

As a result of the 2011 Japanese tsunami, the estimated claim cost of USD40 billion or around IDR531 trillion is estimated to be far below the actual figure, which may reach USD100 billion.

6. Earthquake in China (USD20 Billion)

This is the largest natural disaster to hit China in history. The victims reached 68,000 people. In addition, millions of residents there also lost their homes. The amount of this insurance claim is not entirely covered by the insurance company due to uninsured factors.

7.  North East Blackout (USD6 Billion)

This power outage in the northeastern United States is also known as the US/Canada Power Outage. This incident occurred in 2003. This seven-hour power outage affected a very large area. 10 million people living in Canada, as well as 45 million Americans were affected by this event. Although the value is debatable, at least this large range of insurance claims is needed to compensate for losses that arise due to flight delays, looting, problems with delays in business affairs, and several other things that lose due to the loss of electricity.