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Global insured losses account for about quarter of average economic losses: Report


Catastrophe modeler AIR Worldwide Corp. has said in a report that global insured losses account for about a quarter of global economic losses on average, reported.

AIR also estimated that insured losses for all regions and perils modeled by the firm have increased over the past four years. AIR said that tropical storms and severe storms accounted for 30% and 31% of the global insured losses, respectively, in 2015.

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