A large insurance gap is also witnessed on a global level. More than half (57%) of losses from natural catastrophes in 2021 were not insured, according to Munich Re. (Credit: Sarah J Lee/Shutterstock.com)
During 2021, natural catastrophes (NAT CAT) caused more than $280 billion in losses worldwide, according to Munich Re, which reported approximately $145 billion of those losses occurred in the U.S.
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Steve Hallo
Steve Hallo is managing editor of PropertyCasualty360.com. He can be reached at [email protected]
