70% of overall Hurricane Matthew loss uninsured
Wednesday, 04 26 2017, Category: Nature, Country: World
Data and analysis from reinsurance broker Aon Benfield reveals that Hurricane Matthew is estimated to have resulted in an insurance and reinsurance industry loss of roughly $4.5 billion, and an economic loss of almost $15 billion, highlighting a tropical cyclone protection gap in both developed and emerging regions.
Hurricane Matthew occurred in October of last year, resulting in insurance industry losses in the U.S., Canada, and parts of the Caribbean. The most recent analysis from Aon Benfield reveals that insurance industry losses from the storm were significantly lower than the $15 billion economic loss, with only $4.5 billion, or 30% being covered by insurance protection.