The cost of exceptional natural disasters is constantly increasing

The AIR Worldwide latest report revealed that the insured losses of an exceptional major disaster such as the one that might occur once every 100 years have been estimated in 2016 at 252.9 billion USD. Such estimate of the exceptional major loss is up by 8% compared to the one made in 2015. This value has been rising steadily since 2012 when it amounted to 205.9 billion USD.

The study also highlights the large gap between insured losses and economic damage. The economic losses generated by this type of disaster are estimated at 584.2 billion USD . The overall deficit is thus of 331.3 billion USD. This is due to the low insurance penetration rate, particularly in the emerging countries of Asia and Latin America.

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