Global Uninsured Natural-Catastrophe Losses Reach $424 Billion, Swiss Re Reports
By
Laura Millan
Slightly gummy. The crust never quite set.
Summary
The global natural-disaster insurance protection gap has grown to $424 billion in uninsured losses, a 7% increase year-over-year. North America remains the most exposed region. While insurance coverage has kept pace with rising catastrophe exposure in relative terms, the absolute protection gap has widened as the value of exposed assets continues to grow, according to the Swiss Re Institute.
Key quotes
· 2 pulledThe value of uninsured natural-catastrophe losses rose more than 7% globally last year to $424 billion, with North America the most exposed region, according to a fresh analysis.
While insurance coverage has broadly kept pace with rising catastrophe exposure, the protection gap — in absolute terms — has gone up as the value of exposed assets has grown, the Swiss Re Institute said on Wednesday.
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