LONDON, Jan 4 — Insured losses of US$44 billion from Covid-19 so far represent the third largest cost to insurers of any catastrophe, behind Hurricane Katrina and the 9/11 attacks, insurance broker Howden said today.
That prediction was made by industry specialists in the early days of the pandemic nearly two years ago, as events were cancelled and businesses forced to shut down across the world.“There’s only so much event cancellation coverage out there, there’s only so much civil action coverage out there, and when you get to US$40 billion, that’s pretty much exhausting what was underwritten,” said David Flandro, head of analytics at Howden.
Reinsurers insure the insurers, and reinsurance rate rises are typically passed onto insurers’ customers.
Billions dibazirkan untuk vaksin percubaan, bertaubatlah, kembali pada kebenaran. Ulama yg mengetuk pintu pembesar
Malaysia Latest News, Malaysia Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Source: malaysiakini - 🏆 20. / 51 Read more »
Source: NST_Online - 🏆 17. / 53 Read more »
Source: staronline - 🏆 4. / 75 Read more »
Source: msianinsight - 🏆 8. / 63 Read more »
Source: staronline - 🏆 4. / 75 Read more »