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Tag / catastrophe

The high cost of natural disasters

The high cost of natural disasters

News   •   Jan 15, 2016 15:50 GMT

Not much more than a quarter of global economic losses caused by natural catastrophes during 2015 were covered by insurance. During the year there were 300 separate global natural disasters, as defined by the report's authors, significantly more than the 15-year average of 269 events. These caused a combined global economic loss of US$123, yet only US$35 billion was covered by insurance.

The cost of catastrophe

The cost of catastrophe

News   •   Jul 30, 2015 10:21 BST

Less than a third (31%) of global economic losses as a result of natural disasters were covered by insurance (including both private insurers and government-sponsored programs) during the first half of 2015, according to a new study by Aon Benfield. This is slightly above the 10-year average of 27% because the majority of the losses occurred in regions with higher insurance penetration.