The property protection gap in Latin America
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Underinsurance of property risks is a global challenge. Much of the protection gap is due to uninsured global natural catastrophe risk, which has been rising over the past 40 years. This report focuses on the property protection gap in Latin America. The protection gap is defined as the difference between total economic losses and insured losses. With economic development and ongoing urbanisation, the value of property at risk has outpaced the purchase of insurance in many countries.