HONG KONG, May 8 (Bernama) -- A.M. Best has
released a new briefing that explores the impact on the insurance
industry of the devastating earthquake that struck Nepal on April 25,
2015. Although the 7.8-magnitude quake has already brought significant
economic and human losses, insured costs are expected to stay at a
minimal fraction of total economic losses due to low insurance
penetration in the area.
Looking at the effect from a global perspective, the Best’s Briefing,
titled, “Nepal Earthquake’s Impact to Be Minimal on Global Reinsurers,
But Substantial for Local Sector,” states this event is not expected to
have a major impact on the current reinsurance market. However, on a
local level, the event is expected to have an adverse impact on local or
some regional players, due to the significant cost from property and
motor losses.
http://mrem.bernama.com/viewsm.php?idm=24400
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