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(AP Photo/Bullit Marquez)

While Super Typhoon Haiyan struck the Philippines with a murderous rage that left up to 10,000 dead, the storm wasn’t a “significant” event in insurance term. Look at images of the devastation—the splintered wood, piles of flip flops, corrugated metal—and you see why. The province of Leyte, and its capital Tacloban City, aren’t global commerce hubs. The people here rely on fishing and farming. It’s one of the poorest regions in a country that just recently was deemed investment grade by the three major rating agencies.

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