Disaster Risk Reduction: The Insurance That Always Pays Off

NEW YORK, Jun 16 (IPS) - Floods, earthquakes, and droughts are striking the wallets of the world harder than any other time in history. According to the Global Assessment Report on Disaster Risk Reduction, the cost of disasters is only growing, with annual expenditures exceeding 2.3$ trillion; accounting for over 2% of global GDP, and if represented as a nation, it would have the seventh largest GDP.

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