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Natural-Disaster Insurance Gap Now Exceeds $420B Globally

While insurance coverage has broadly kept pace with rising catastrophe exposure, the protection gap — in absolute terms — has gone up as the value of exposed assets has grown, the Swiss Re Institute said on Wednesday.

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Climate change, inflation and unstoppable urbanization drive the costs of earthquakes, hurricanes and forest fires to astronomical heights worldwide. However, while the damage is rising rapidly, the insurance industry is withdrawing from the extreme risk areas. According to Swiss Re Institute, the result is a gigantic, unsecured financial gap of $424 billion. In the case of insured disaster damage, the experts expect a doubling by 2030. Swiss Re…

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Business Times broke the news in Singapore, Singapore on Wednesday, June 3, 2026.
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