Kathmandu. Insured property damage from natural disasters is expected to exceed $100 billion for the sixth time in a row. <\/p>\n
According to a recent report by the Swiss Re Institute, insurance and reinsurance companies are expected to pay $107 billion in damages from natural disasters worldwide by 2025. That’s more than $100 billion for the sixth year in a row. <\/p>\n
This year’s estimated losses are 24 per cent lower than the $141 billion in 2024 from natural disasters and 3 per cent lower than the 10-year average of $111 billion. <\/p>\n
In 2025, the Los Angeles wildfires caused $40 billion in insured property and severe hurricane damage caused $50 billion. Both of these natural disasters will become the leading cause of insurance losses worldwide in 2025. <\/p>\n
The U.S. is once again the worst-hit market with $107 billion in total insured property losses this year. Insured losses amounted to $89 billion. The U.S. accounts for more than 83% of the total damage caused by natural disasters this year. <\/p>\n
“Insured losses are widening, despite the volatility,” said Jerome Jean Hegelly, chief economist at the Swiss Rican Group. “Therefore, there is a need to strengthen prevention, security and preparedness to protect lives and property,” he said, adding that reinsurance companies and the insurance sector have a dual role to play in supporting the development of strong risk-informed public policies and private investment to act as financial shock absorbers and reduce future losses. \u2019<\/p>\n","protected":false},"excerpt":{"rendered":"
Kathmandu. Insured property damage from natural disasters is expected to exceed $100 billion for the sixth time in a row. According to a recent report by the Swiss Re Institute, insurance and reinsurance companies are expected to pay $107 billion in damages from natural disasters worldwide by 2025. That’s more than $100 billion for the […]<\/p>\n","protected":false},"author":16,"featured_media":180731,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"footnotes":""},"categories":[45031,45044,45159],"tags":[],"class_list":["post-279797","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-banner-news-en","category-international-news-en","category-news-en"],"acf":[],"_links":{"self":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/279797","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/users\/16"}],"replies":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/comments?post=279797"}],"version-history":[{"count":0,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/posts\/279797\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media\/180731"}],"wp:attachment":[{"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/media?parent=279797"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/categories?post=279797"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/english.insurancekhabar.com\/ikbrapi\/wp\/v2\/tags?post=279797"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}