(Bloomberg) -- Flooding in China last month caused about $33 billion in economic losses, with less than 2 percent of the sum covered by insurers, Aon Plc said.
|760 people dead
The “Mei-Yu” rainfall drenched the Yangtze River basin and northeastern China, leaving more than 760 people dead or missing and damaging or destroying more than 800,000 homes and other structures, the London-based insurance broker said Thursday in a report. Most of the claims made to insurers were for agriculture, Aon said.
“The intensity and scope of what transpired from the associated floods were at a magnitude not seen in nearly two decades,” Adam Podlaha, global head of Aon’s Impact Forecasting, said in the company’s monthly statement on global catastrophes.
|Worst flooding since 1998
Storms and flash flooding in the U.S. resulted in at least $1.5 billion of losses, two-thirds of which were insured, Aon said. Super Typhoon Nepartak, which hit Taiwan, China and the Philippines, also caused $1.5 billion of losses or more.
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