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Collaboration needed to cover disaster insurance gap: Official

Typhoon Jebi strikes Japan

Denis Duverne, chairman of France-based insurer Axa S.A., called on insurers and the public sector to collaborate to close the insurance protection gap in Asia and increase uptake of risk-transfer products, reports. Achim Steiner, an official at the United Nations Development Program, said that insurance covered only half of $160 billion in catastrophe losses in 2018.

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