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Secondary perils to wreak evermore natural catastrophe devastation globally, Swiss Re Institute’s latest sigma says

10 April 2019 Swiss Re

• Global insured losses from natural catastrophes in 2018 were USD 76 billion, the fourth highest on sigma records
• Over 60% of the losses resulted from so-called “secondary” perils, small-to-mid sized events or secondary effects of a primary peril
• Combined insured natural catastrophe losses for 2017-2018 were USD 219 billion, the highest ever over a two-year period
• Swiss Re Institute expects losses from secondary perils will rise due to growing assets in areas exposed to more extreme weather conditions
• Insurers need to focus more on primary and secondary perils to be able to underwrite catastrophe business sustainably and build global resilience


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With regards to the COFI Bill, do you believe lumping the health and finance sector in the same basket will sustain the financial sector?

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FAnews April 2019 Get the latest issue of FAnews

This month's headlines

Differences aside… in the name of fairness
Advice… now more important than ever
COFI… is this a reason to be positive?
Cyber cover: One size does not fit all
The need for member education
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