ASIA FLOODS CAUSE $10B IN UNINSURED LOSSES IN JULY

Severe seasonal floods have left a costly bill of more than $10bn of economic or insured losses across Asia in July according to research from Aon Ben field.

The report from the brokers’s catastrophe model development team Impact Forecasting, shows that the so called ‘Protection gap’ remains as problematic and expensive as ever in the region.

Given low levels of Insurance penetration in the region, the majority of these losses are expected to be uninsured, highlighting the considerate protection gap and the potential for Reinsurers to further offer their specialist risk management skills.

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