Summary
Natural disasters around the world, including in Pakistan and India, are happening more frequently and with greater intensity. These disasters cause significant financial losses, with current yearly costs over $200 billion. The financial burden of these events is a pressing issue.
Key Facts
- Natural disasters globally are becoming more frequent and severe.
- The UN reports that children born today have a high chance of facing major floods in their lifetime.
- Yearly financial losses from these disasters exceed $200 billion.
- These losses could increase to as much as $2.3 trillion when indirect effects are considered.
- Pakistan and India recently experienced some of the worst floods in decades.
- Determining who will cover the costs of these disasters is a significant concern.
