Flood losses more than doubled in past 10 years, study finds
Flood losses are increasing at an alarming rate and the insurability of floods provides unique challenges for the industry, according to Swiss Re's latest report.
Insured flood losses are also increasing significantly, the reinsurer said, noting that, while annual claims in the 1970s were between $1bn and $2bn, insured flood losses in 2011 amounted to $15bn.
It
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