By Carolyn Cohn
The last decade was the worst on record for economic losses from natural disasters, amounting to $3 trillion - over a trillion more than the previous decade, insurance broker Aon (AON.N) said on Wednesday.
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The Asia-Pacific region was the worst-hit in the 2010-2019 period, accounting for 44% of the total, with earthquakes, tsunamis and tropical cyclones among the disasters, Aon said in a report.
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“Perhaps the biggest takeaway from the last decade of natural disasters was the emergence of previously considered ‘secondary’ perils – such as wildfire, flood, and drought – becoming much more costly,” said Steve Bowen, director and meteorologist at Aon’s impact forecasting team.
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Last year was the second warmest year on record for land and ocean temperatures, though Aon said economic and insured losses were lower than in the previous two years.
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