2023-08-09 08:29:00
The damage caused by natural disasters is estimated at 120 billion dollars for the first half of 2023 alone, a sharp increase compared to a ten-year average, reinsurer Swiss Re said in a study on Wednesday.
Of this amount, only $50 billion is under-covered by insurance, detailed the Zurich group in a document from the Swiss Re Institute. This is the second highest amount since 2011. This surge in costs was explained by bad weather in the United States which caused 34 billion in insured losses, the highest amount ever recorded over a period of only six month.
The earthquake that devastated southeastern Turkey and northern Syria in February, killing more than 50,000 people, caused insured damage of 5.3 billion dollars and economic costs of 34 billion, according to preliminary World Bank estimates.
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