Climate change has raised the cost of natural disasters, as rising sea levels and drought increase the frequency and severity of flooding and wildfires, insurers and risk modelling experts say.
The list of the 10 most expensive events of the last decade provided to Reuters by risk modelling firm RMS all took place over the past five years.
While the biggest losses are in richer countries with more expensive assets, developing countries such as Pakistan, which suffered flooding this year that cost an estimated $3 billion, often bear the brunt of damaging weather events.climate talks in Egypt, and insurance is seen as one way to do that.to provide pre-arranged insurance and disaster protection funding to countries suffering climate disasters was launched at the climate conference.1.
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