Record losses from disasters in 2011 Summary Box: Record losses from disasters in 2011 Jan 4 12:29 PM US/Eastern TOUGHEST YEAR: The devastating earthquakes in Japan and New Zealand made 2011 the costliest year yet for the insurance industry in terms of natural disaster losses, a leading reinsurance company said Wednesday. THE TOTAL: Munich Re AG said in an annual report that insured losses last year totaled $105 billion. That topped the previous record of $101 billion set in 2005, when losses were swollen by claims from Hurricane Katrina in New Orleans. JAPAN QUAKE: Japan's earthquake and tsunami in March caused insured losses of between $35 billion and $40 billion, Munich Re said.