This aerial photo shows a flooded area after heavy rains in Yingde, Qingyuan city, in China’s southern Guangdong province, last year. Photo: AFP
This aerial photo shows a flooded area after heavy rains in Yingde, Qingyuan city, in China’s southern Guangdong province, last year. Photo: AFP

Climate change: only 6 per cent of flood-related losses in southern China last year were underwritten, exposing huge insurance gap: Munich Re

  • Floods in Guangdong, Guangxi and Fujian provinces last year caused US$5 billion of losses, but only US$300 million or 6 per cent was insured, according to Munich Re
  • Losses from global natural disasters were around US$270 billion last year, but insured losses reached US$120 billion, above the five-year average of US$97 billion

This aerial photo shows a flooded area after heavy rains in Yingde, Qingyuan city, in China’s southern Guangdong province, last year. Photo: AFP
This aerial photo shows a flooded area after heavy rains in Yingde, Qingyuan city, in China’s southern Guangdong province, last year. Photo: AFP
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