Swiss Re experts say rising losses from natural and man-made catastrophes reinforce the need for preventative and post-disaster management to help “reduce human suffering”.

In its latest Sigma report, the reinsurer reveals global insurance losses almost doubled in 2010 from $US27 billion to $US43 billion ($26.1 billion-$41.6 billion).

This represents more than a 60% jump on the previous year’s catastrophe losses.

The report also highlights a significant increase in worldwide economic losses which tripled from $US68 billion ($65.8 billion) to $US218 billion ($211.06 billion) in 2010.

And human losses reached an all-time high for the first time in 35 years with 304,000 fatalities from man-made and natural disasters, compared to the loss of 15,000 lives in 2009.

Earthquakes proved to be one of the biggest contributors accounting for more than a third of catastrophe losses, with both the Chile and Christchurch events costing a combined $US12.4 billion ($12.05 billion).

Sigma report author Balz Grollimund says although no long-term trends of increasing global earthquake activity has emerged, fatalities and insured losses are on the rise.

“The main reasons are population growth, the high number of people living in urban areas as well as rising wealth and rapidly increasing exposures,” he said.

“And many of these rapidly growing areas are located in seismically active areas.

Despite growing costs, Swiss Re says overall claims for 2010 are in line with the 10-year average due to unusually modest losses for the US hurricane season.