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Parametric insurance may help property owners repair damage more quickly after a natural disaster. (Photo: Shutterstock)

Although we tend to think of emerging markets as underinsured, it may surprise you to know the United States also has a sizeable protection gap in the difference between total economic losses and insured losses. The problem is magnified by natural catastrophes. Windstorms and earthquakes can cause damage to a wide range of assets that aren’t insured, forcing people to pay for losses that aren’t covered.

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