Philippines quake: only 10% of damage insured
Economic losses from the magnitude 6.7 earthquake that struck the southern Philippines on Monday are estimated to be close to $1bn - but only a tenth of the damage is thought to insured.
Despite increased uptake in the last year, when it comes to insurance penetration the Philippines still lags behind its regional peers.
Catastrophe modelling firm Eqecat said it anticipates $100m
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