Magazine date:
Mar 2018 According to Aon, South Africa is not considered as a “low-risk” country anymore as regards natural catastrophes. The broker, regularly publishing surveys on most exposed regions to nature’s fury, affirmed that in 2017, local insurers had to disburse more than 5 billion ZAR (404.7 million USD) in compensations for natural disasters [4].
The devastating events were torrential rain that washed the city of Durban in October 2017 and the fire that devastated the tourist city of Knysna in June of the same year.
2017 has been exceptionally disastrous everywhere else. According to the same source, 330 large-scale events occurred worldwide resulting in economic losses estimated at 353 billion USD.