Natural catastrophes: Closing the protection gap together

Major catastrophes like hurricanes and earthquakes capture all the headlines. But the costs of natural disasters, totalling USD 155 billion in 2018 alone, are increasingly driven by smaller recurring events known as secondary perils. Many are linked to more severe weather and getting worse with climate change: wildfires, drought, heatwaves, torrential rain and flooding. Hazards like these are likely to cause ever greater damage, especially in the world's growing cities and densely populated areas exposed to rising temperatures and heavier precipitation.

Most natural catastrophe losses are not covered by insurance. This means that millions of households and businesses face a large and widening protection gap. With our clients and partners we aim to reverse this trend by covering new risks and bringing affordable re/insurance solutions to more customers around the world.

We believe a key step is to increase risk awareness and knowledge of insurance options. Join us in this effort. Learn about our services and solutions. And help spread the word. #natcat2019 #mitigatingclimaterisk

Tracking the protection gap

In its latest sigma publication, the Swiss Re Institute puts the figure of the global protection gap at a staggering USD 219 billion in the last two years alone. Our tracker map looks at how total and insured losses trended worldwide based on a ten-year average. Check out the protection gap in your region.

Interactive: Explore our protection gap tracker map

Our solutions

Visit our flood and parametric earthquake pages to learn about two of our global offerings and check out the regional tabs on this page to find out what services and solutions we provide in your market.

As a corporate client, you will benefit from tailor-made industry solutions provided by Swiss Re Corporate Solutions.

CatNet™ is our state of the art geo-portal, available for registered clients.

Fires, floods and earthquakes are as old as time, yet they continually present new challenges. Fortunately, we've never had better tools allowing insurers to underwrite these challenges with confidence.

Read more in our article.

The 2018 quake and its ensuing tsunami in Palu on Indonesia's Sulawesi island killed over 2,200 people while another 1,000 are missing and feared swept out to sea or still left under the rubble. This is just one of the hundreds of natural disasters across Asia, which caused losses amounting to over USD155 billion last year. Major catastrophes like hurricanes and earthquakes capture all the headlines. But the costs are increasingly driven by smaller recurring events known as secondary perils. Many are linked to changing climate patterns or from human migration to coastal regions. The costs, and loss of lives, are likely to increase because of human density, which make the spread of diseases easier. The mass concentration of steel, timber and cement also have the ability to cause more destruction.

Most natural catastrophe losses are not covered by insurance. This means that millions of households and businesses face a large and widening protection gap.

"What we want to do is make societies more resilient and get them back on their feet again quicker than before," said Jayne Plunkett, CEO Reinsurance Asia, Swiss Re.  "The stories from Palu aren't unique to Palu. We believe that working with our clients and partners, we can make Asia more resilient."