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  • Natural catastrophes and man-made disasters in 2018: “secondary” perils on the frontline

    The catastrophe experience of 2018 reaffirms that the loss impact of secondary peril events is anything but “secondary”. Total economic losses from natural catastrophes and man-made disasters in 2018 were USD 165 billion. The catastrophe experience of 2018 reaffirms that the loss impact of secondary peril events is anything but “secondary”. Total economic losses from natural catastrophes and man-made disasters in 2018 were USD 165 billion.

    The catastrophe experience of 2018 reaffirms that the loss impact of secondary peril events is anything but “secondary”. Total economic losses from natural catastrophes and man-made disasters in 2018 were USD 165 billion. Insurance covered USD 85 billion of those losses, the fourth highest one-year aggregate industry payout ever, and above the previous 10-year annual average of USD 71 billion. Of last year’s insured losses, USD 76 billion were due to natural catastrophes and of those, more than 60% of claims were to help populations impacted by secondary peril events. Tragically, 13500 people lost their lives in all catastrophes last year.




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