Economic losses in the Asia Pacific region due to natural disasters soared to $65 billion in 2023, with only 9% covered by insurance. Floods remained the most costly threat, accounting for over 64% of total losses.
Economic losses in the Asia Pacific region due to natural disasters soared to $65 billion in 2023, according to an Aon report. Of the total losses, only 9%, or $6 billion, were covered by insurance, falling short of the 21st-century average of $15 billion. The report found that floods remained the most costly threat in Asia-Pacific for the fourth consecutive year, representing over 64% of total losses in 2023.
Economic losses in the Asia Pacific region soared to $65 billion due to natural disasters, mainly fueled by floods in China and droughts in India, as reported by insurance company Aon.Of the total losses, only 9%, or $6 billion, were covered by insurance, falling short of the 21st-century average of $15 billion. The report found that floods remained the most costly threat in Asia-Pacific for the fourth consecutive year, representing over 64% of total losses in 2023. Annual flood losses have exceeded $30 billion since 201
Asia Pacific Economic Losses Natural Disasters Floods Insurance
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Natural disasters caused an estimated $65 billion in losses last year for Asia-PacificThe report found that floods remained the most costly threat for the fourth consecutive year, representing over 64% of total losses in 2023.
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Natural disasters caused an estimated $65 billion in losses last year for Asia-PacificThe report found that floods remained the most costly threat for the fourth consecutive year, representing over 64% of total losses in 2023.
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