1.
According to the article, how can Asian economies face natural disasters better?
The unpredictability of natural tragedies has made it crucial for Asian nations to close the insurance-protection gap in order to safeguard their economies when disasters occur. This gap refers to the difference between insured and uninsured losses during a calamity.
In 2014, natural disasters accounted for about $101 billion, out of which half can be easily attributed to events in Asia. Glaringly, only 8% of disasters in Asia were insured, while in America the coverage was much higher at 60%.
Therefore, underinsurance is a major problem in Asia and poses a major risk to assets.
Researchers at the Bank of International Settlements have concluded that a disaster, if inadequately insured, can severely affect an economy. Conversely, the instability is only temporary in case of good insurance coverage.
Asian countries need to divert some investments into disaster insurance policies or disaster bonds to protect their economies from collapsing because of unpredictable events.
According to the article, how can Asian economies face natural disasters better?
In 2014, global losses due to natural disasters amounted to
How much damage was covered by insurance in America last year?
Disasters in America had coverage of over 60%.
In the above sentence, what does the word coverage mean?
If a disaster is inadequately insured, it can severely affect an economy.
In this sentence, what is the meaning of inadequate?
Based on the information in the article, how can countries minimize the economic impact of natural disasters?
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