Swiss Re’s latest report on catastrophe risk entitled Mind the Risk: A global ranking of cities under threat from natural disasters, has highlighted flood as the leading global catastrophe risk.
The report found that 379 million people globally are at threat from flooding, with Tokyo-Yokohama, Manila and the Pearl River delta the three most exposed locations in terms of millions at risk. The report found that urban areas located on the coast, or on deltas and floodplains face considerable risk from flooding, with events such as the floods in Thailand, which cost the industry $15 billion, the largest insured fresh water flood loss ever, according to Swiss Re.
The report found that flood topped the list of global risks in terms of people exposed, with earthquake and storm surge the second and third most pressing concerns, with the potential to affect 283 and 157 million people respectively.
Swiss Re, flood, catastrophe risk, reinsurance