Global natural disasters cost $520 billion of consumption loss annually, 60 percent larger than asset losses that are commonly reported, the World Bank said in a report.
The regulation would impose on states a 'disaster deductible' a requirement that states shoulder some of the recovery costs up front, before receiving federal dollars.
Swiss Re offers natural catastrophe business interruption insurance in Guatemala through MiCRO. Learn more about the program and how it helps the under-insured.
Almost 30 percent of the 2016 losses were insured. The share of uninsured losses the so-called protection or insurance gap remained substantial at around 70 percent.
Parametric insurance provides a solution to the time lag between the occurrence of a natural disaster and when help arrives. Here's what you need to know.