A lack of insurance coverage in Southeast Asia threatens an increasingly important hub for supply chains, as the region is battered by tropical storms, major flooding, and other natural disasters. That makes Asia one of the world’s least insured regions against natural disasters. (By comparison, 70% of North America’s disaster losses of $133 billion were recouped.) The quake racked up $12 billion in losses, of which just $1.5 billion was insured. Insurance coverage can be less than 5% in many of Asia’s lower-income countries, like Myanmar, Laos, Cambodia and the Philippines, according to Munich Re.