Risks posed by natural disasters
Economic losses caused by natural catastrophes are trending upwards
Each year across the world, natural catastrophes destroy assets running into multiple billions. Often, only a tiny proportion of this damage is insured. While the insurance gap has diminished in recent years in industrialised countries, there is still a considerable gulf in developing and emerging countries. It is often the case there that individuals and companies affected by a catastrophe have to carry on regardless and are forced to rely on donations from their own country or abroad.