A.M. Best Briefing: Tianjin Losses Still Being Calculated; Risk Management Tools Come Into Play

HONG KONG, Aug 24 (Bernama-BUSINESS WIRE)-- The massive explosion at a toxic chemical warehouse in the port at Tianjin, about 200 kilometers from Beijing, China, on August 12, 2015, has caught worldwide attention. To date, over one hundred people died in the incident with the death toll likely to rise further.
 
The Best’s Briefing, titled, “Tianjin Losses Still Being Calculated; Risk Management Tools Come Into Play,” notes that various market sources have started to come up with insured loss estimates, but those estimates are subject to uncertainty as residents within three kilometers of the blast site have been evacuated. Direct insurers and their policyholders are still not allowed to inspect on-site the extent of loss damage.

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