70% of global natural catastrophe losses in past decade were uninsured: Swiss Re

Kurt Karl, chief economist at Swiss Re Ltd., has said that 70% of the total global natural catastrophe losses in the past 10 years were uninsured.

Uninsured losses amounted to $1.2 trillion, while insured losses totaled $523 billion, repots 1asig.ro. "In the emerging markets, 80-98% of the losses are uninsured," said Mr. Karl. "Average uninsured portions have been around 55% for windstorms, 86% for floods, and 90% for earthquakes," added Mr. Karl.

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