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Australia: Nat CATs could cost over US$21 bln a year by 2050

Source: Asia Insurance Review | Aug 2013

The cost of natural disasters in Australia will rise to around A$23 billion (US$21.2 billion) a year in 2050, or nearly four times the A$6.3 billion a year seen currently, as population density increases and the severity and frequency of storms, floods, cyclones and bushfires grow, said the Australian Business Roundtable for Disaster Resilience and Safer Communities in a white paper it released recently.

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