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Swiss Re Ltd. said that only 30% of catastrophe losses were insured in the last decade, leaving governments, businesses and other organizations to pick up the remaining $1.7 trillion bill, Reuters reported. The last six months of the year have been "exceptionally expensive" for the insurance industry, said Tom Herbstein, director of ClimateWise, which is facilitated by the U.K.-based Cambridge Institute for Sustainability Leadership "The problem is that if you keep repricing risk in a world where exposure to risk is growing exponentially, you eventually reach a point where the cost of insurance is too high."