(Bloomberg) – The deadliest mass shooting in modern U.S. history is adding to soaring costs for insurance companies, which are already taking a beating this year from an onslaught of hurricanes, earthquakes and wildfires.
The industry may have to shell out more than $1 billion for the Las Vegas massacre, insurance executives say. Acts of a solo gunman, who killed almost 60 people and injured about 500 others when he fired into the crowd of a country music festival last month from his Mandalay Bay hotel room, have resulted in multiple lawsuits.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In