News - Asia: More insurance coverage needed in Asia
Source: Asia Insurance Review | Dec 2011
Although Asia experienced US$73.5 billion in economic losses due to disasters in 2010, it only had US$2 billion in insured losses, despite half the world’s natural disasters occurring here, said Mr Ng Nam Sin, Assistant Managing Director, Development Group, Monetary Authority of Singapore, who was speaking at an event “Financial Risk Management of Natural Catastrophes in Asia Pacific” organised jointly by Aon and AXA.
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