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The combined volume of losses during the recent 50 years amounted to 1 300 billion USD, with just 8% of the entire amount being insured. This gap between economic damage and insured losses is poised to widen even further during the upcoming years. According to ESCAP, this gap is accounted for by urban over-population and the high density of population in coastal cities, the areas that are highly exposed to natural disasters.
In order to get the situation under control, the different countries in the region are required to adopt national strategies designed to improve resilience to climate change.
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