Only 12% of nat cat losses insured in Asia Pacific
Posted On: Jan. 27, 2021 9:31 AM CST
A report by Aon PLC found that the protection gap in Asia Pacific was huge with only 12% of the $101 billion in total direct economic losses from natural catastrophes insured in 2020, Asia Insurance Review reported. Severe monsoons due to La Nina conditions caused heavy floods, especially in China where economic costs of the floods reached $35 billion.