Search
 

Sachs: Insuring for disaster

Professor Jeffrey Sachs addressed catastrophe coverage on Monday's New York Times op-ed page. His message: It's time for a global system of disaster insurance to help countries like Haiti and Nepal rebuild following devastating events.

By Tim Sprinkle | Updated on May 04, 2015
Buddhist monks salvage a statue of a Buddhist deity from a monastery around the famous Swayambhunath stupa after it was damaged by Saturday's earthquake in Kathmandu, Nepal, Thursday, April 30, 2015. (AP Photo/Niranjan Shrestha)

The Himalayan nation of Nepal was rocked by a 7+ magnitude earthquake on April 25, a disaster that killed more than 7,000 people and injured scores more in the impoverished Asian nation. Thousands of structures in the capital city of Kathmandu were reduced to rubble, and it is currently estimated that hundreds of thousands of homes and smaller structures were destroyed across the country.

Here in the West, the most-covered impact of the Nepal earthquake was likely the destruction it wreaked on Mount Everest, the tallest mountain in the world, where avalanches triggered by the quake swept away a number of climbers and caused widespread damage on the mountain. At least 17 climbers were killed, including Google executive Dan Fredinburg, and nearly 40 others injured.

Want to continue reading?
Become a Free
PropertyCasualty360 Digital Reader.

INCLUDED IN A DIGITAL MEMBERSHIP:

  • All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
  • Educational webcasts, resources from industry leaders, and informative newsletters.
  • Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.

Already have an account?

NOT FOR REPRINT

© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.

Recommended Stories

PropertyCasualty360

Join PropertyCasualty360

Don’t miss crucial news and insights you need to make informed decisions for your P&C insurance business. Join PropertyCasualty360.com now!

  • Unlimited access to PropertyCasualty360.com - your roadmap to thriving in a disrupted environment
  • Access to other award-winning ALM websites including BenefitsPRO.com, ThinkAdvisor.com and Law.com
  • Exclusive discounts on PropertyCasualty360, National Underwriter, Claims and ALM events

Already have an account? Sign In Now
Join PropertyCasualty360

Copyright © 2024 ALM Global, LLC. All Rights Reserved.