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International

Economic losses outweigh insured losses in Asia-Pacific

September 19, 2014 Reprints

The growing losses in the Asia-Pacific region from natural disasters have become an important topic in talks over forming a financial resilience for climate change, reports The Asia Foundation.

Figures show that losses in some parts of the region are much higher than what is recovered through insurance and reinsurance. Figures from Swiss Re have showed that overall insured losses from natural and man-made disasters totaled $45 billion worldwide in 2013, while economic losses totaled $140 billion.

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Economic losses outweigh insured losses in Asia-Pacific

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