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Insurance-based solutions needed for Asia flood risks, researchers say

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Insurance and reinsurance industry research body Geneva Association has said that greater support is needed from the traditional and alternative risk-transfer or ILS markets to bridge the escalating flood risk protection gap in Asia, reported Artemis.

World Bank and the Organization for Economic Co-operation and Development research estimates that 147 to 216 million people in Asia live on land that will be below sea or regular flood levels. GA predicts that Asia will account for 50% of all global assets exposed to flood risks by 2070.

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