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flood adaptation investments crucial for economic stability and risk management
Economic losses from natural disasters reached an estimated US$280 billion in 2023, with floods accounting for US$51.6 billion. Swiss Re Institute emphasizes that proactive flood adaptation is more beneficial than post-flood recovery, advocating for investments in resilience to mitigate future risks and enhance insurability. Despite the high costs of adaptation measures, many countries still prioritize rebuilding over prevention, leading to significant financial losses.