Solar storms could generate trillions in economic losses, warns Aon Benfield
Solar and geomagnetic activity will reach a peak in 2013, according to reinsurance broker Aon Benfield, putting power distribution, telecommunications and satellite navigation at risk.
Aon Benfield noted that a 2004 report from the US National Academy of Sciences estimated that the economic costs of a repeat of a 1921 event would be more than $2tn for the US alone in the first four
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