What the right framework looks like – and why the insurance market is already applying it
Munich Re estimated total global natural catastrophe economic losses at around $320 billion in 2024, of which only about $140 billion was insured. That protection gap – roughly 56% of economic losses uninsured – exists now, at a level already consequential for governments, businesses and their lenders, without any reference to 2050 projections. It is the kind of near-term, specific figure that actually drives underwriting decisions, reinsurance treaty structures, and credit assessments.
