This report analyses five natural catastrophes in order to examine the role of non-life insurance in reducing costs to the taxpayer and increasing the speed of recovery, both in terms of economic activity and full reconstruction following natural disasters. Using this methodology, it is possible to gain an insight into the role which insurance plays in bearing a proportion of the costs of reconstruction following damaging events resulting from the forces of nature.
The case studies that are discussed include Hurricanes Katrina, Rita and Wilma in the United States in 2005; the widespread flooding in the UK in 2007; the earthquake in Sichuan Province China in 2008; flooding across Thailand in 2011; the Great Eastern earthquake and Tsunami in Japan in 2011.
The report also provides economic analysis of the insurance of countries, the contribution of non-life insurance to the economy, and the insurance of industries.
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