Pakistan and India: What is the global cost of natural disasters? | Business and Economy

Global natural disasters are hitting harder and more frequently, and climate emergencies are now breaking records year after year.
The UN says a child born today faces a nearly nine in 10 chance of experiencing a catastrophic flood during his or her lifetime.
The financial cost is staggering: more than $200 billion a year.
That figure could rise to as much as $2.3 trillion, once knock-on effects are included.
But who will pay when the storms come?

Nowhere is that issue more pressing than in Pakistan and India, which have been hit by some of the worst flooding in decades.