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China: Typhoon Chan-hom causes USD1.5bn economic loss, according to Aon catastrophe report

Source(s): Aon Benfield
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Impact Forecasting launched the latest edition of its monthly Global Catastrophe Recap report, which evaluates the impact of the natural disaster events that occurred worldwide during July 2015. The report reveals that Typhoon Chan-hom tracked across much of the Western Pacific Ocean during the month, causing extensive damage in China, Japan's Okinawa Island chain, South Korea, Taiwan and Guam, killing at least six people and injuring 30 others.

Total economic losses were estimated at more than USD1.6 billion, with China bearing the greatest impact; according to China's Ministry of Civil Affairs, damage from Chan-hom had resulted in a CNY9.1 billion (USD1.5 billion) economic loss, mainly as a result of damage to agricultural interests and infrastructure.

Additional landfalling tropical cyclones in Asia during the month included Typhoon Linfa and Super Typhoon Nangka, which caused total economic losses of USD214 million and USD200 million respectively.

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Hazards Cyclone, Hurricane and Typhoon
Themes Insurance and risk transfer Economics of DRR
Country and region China

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