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Less than one-third of global weather-catastrophe losses are covered by insurance. This underinsurance is most extreme in the poorer countries. For example, in Asia (excluding Japan) insured losses from weather catastrophes since 1980 are at less than 5% of the overall losses. But many natural hazards remain underinsured even in developed countries, as people, companies or even governments frequently do not have sufficient risk awareness. Take the example of the flood risk in North America: while nearly half of all weather-disaster losses there since 1980 have been insured, the figure for flood losses in the same period is just one-fifth
Extreme weather causes serious damage and destroys assets worth billions. Discover how to handle weather risks with solutions by Munich Re.
www.munichre.com
It is passingly strange that the mentally deficient on this board can ignore this. Even more strange that a troll that has the audacity to claim to be a Phd Geologist can ignore all the findings of the scientists in the GSA and AGU that say he is full of shit. But that is the current state of our society when people that support a treasonous fat senile old orange clown that kissed Putin's ass in public can call themselves patriots. And these same people supported the lies of the clown, and as a result about 800,000 Americans are dead. They deny the science and call the scientists liars, even as they post on the internet using computers. Do they really think the holy roller preachers developed our technology? The scientists have cataloged how the number of extreme weather events have increased over the past decades, and how much that has cost us.