Asian insurance penetration still lagging
Posted On: Sep. 11, 2019 6:23 AM CSTA report by U.S.-based risk-modeling firm AIR Worldwide Corp. said that only 9% of catastrophe losses are insured in Asia, compared to the global average of 24%, Asia Insurance Review reports. The report also said that insured and economic average annual losses from catastrophes totaled $12 billion and $133 billion, respectively, in Asia, while the global figures stood at $92 billion and $394 billion, respectively.