United Nations: Economic losses linked to disasters are “out of control”

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A report published by the United Nations Office for Disaster Risk Reduction (UNISDR) suggests that economic losses from natural disasters and catastrophe events have been dramatically underestimated in the past. The report suggests that economic losses from floods, earthquakes and droughts alone have been underestimated by as much as 50% and that the actual figure for direct economic losses from disasters this century could be as high as $2.5 trillion.