Global insurance protection gap continues to be significant: Swiss Re

Posted On: May. 24, 2017 4:00 AM CST

Data from Swiss Re Ltd. showed that the global insurance protection gap continues to be significant, with economic losses from natural and man-made disasters amounting to at least $158 billion and insured losses totaling nearly $50 billion in 2016, Xprimm.com reported. Andrea Fuchs, market underwriting head of Central & Eastern Europe at Swiss Re Europe, said that the gap can be closed by developing products that offer minimal protection at an affordable cost.