The costliest natural disaster in the region last year was the severe flood caused by heavy rainfall in central China’s Henan province in July. Photo: TNS
The costliest natural disaster in the region last year was the severe flood caused by heavy rainfall in central China’s Henan province in July. Photo: TNS

Natural disasters cost Asia-Pacific US$50 billion last year, of which just US$9 billion was covered by insurance, says Munich Re

  • Natural disasters caused losses of US$280 billion globally, making it the second-costliest year on record, says the world’s largest reinsurer
  • ‘The natural disasters of 2021 have highlighted the enormity of the insurance gap in the Asia-Pacific region,’ said Dr Achim Kassow of Munich Re

The costliest natural disaster in the region last year was the severe flood caused by heavy rainfall in central China’s Henan province in July. Photo: TNS
The costliest natural disaster in the region last year was the severe flood caused by heavy rainfall in central China’s Henan province in July. Photo: TNS
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