Investing in disaster reduction reduces cost of insurance

the cost of insurance

The cost of insurance for home owners could be reduced if governments invest more in disaster risk reduction activities according to the UN.

An earthquake in Turkey in October led to widespread devastation in the south-east of the country, but only 9% of building owners were insured for the damage.

The cost of  the disaster to insurance companies was $170 million, a small fraction of the $12 billion dollars incurred after the New Zealand earthquake in February.

The UN's disaster reduction office (UNISDR), says if countries don't invest in reducing the risk of damage caused by disasters then insurance will not be affordable to most people.

Filed under Today's News.
UN Radio Daily News Programme
UN Radio Daily News Programme
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