Natural catastrophes have cost $2.5 trillion since 2000: U.N. reportPosted On: May. 16, 2013 12:00 AM CST
A study by the United Nations International Strategy for Disaster Risk Reduction has revealed that the cost of natural catastrophes has reached $2.5 trillion since 2000, significantly exceeding previous forecasts, Agence France-Presse reported.
The study's author, Andrew Maskrey, warned that businesses outsourcing to disaster-prone regions without sufficient precautionary measures could face unexpected costs if a catastrophe strikes. Mr. Maskrey also said that companies must avoid leaving all the thinking to insurers as insurance is not a complete solution.