Catastrophe insurance market to grow over next 4 years
Monday, 12 05 2016, Category: Insurance and Reinsurance, Country: World
The global catastrophe insurance market is expected to grow at a compound annual growth rate of 5.49% between 2016 and 2020, according to a new forecast from Technavio.
Catastrophe insurance helps protect people and businesses against natural disasters like earthquakes, floods and hurricanes. It also insures against “man-made” disasters like terrorist attacks. It’s useful coverage because it insures against events that generally have a low probability but a high cost – and these high cost events are usually excluded from standard hazard insurance policies, according to a news release from Technavio.
Source: Insurance Business