If a catastrophe is defined by the standard that the direct economic loss of a single disaster exceeds USD 1 billion, by analyzing the types and frequency of catastrophes that occurred around the world from 1992 to 2018 (CRED 2021 ), we found that these events mainly included earthquakes (including tsunamis), typhoons, and floods, and the frequency of catastrophes showed an increasing trend (Fig. 1 ).
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