A new report from Aon outlines that last year was another “active” one for global catastrophes, despite the lack of “mega” disaster events.
The report, entitled “Weather, Climate & Catastrophe Insight: 2018 Annual Report,” noted that 394 natural catastrophe events in 2018 generated economic losses of US$225 billion. Of that total, private sector and government-sponsored insurance programs covered US$90 billion, revealing a protection gap of about 60% – a record low since 2005.
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