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Verisk reports that insured losses from the storm that socked Europe in early November could reach $1.39 billion.
Mitchell International projects that the gap will eventually narrow, but is unlikely to close completely.
The U.S., China and Japan would be the hardest hit if the hypothetical, but plausible, scenario unfolded, according to the London market.
Insurance technology news from SEON, Coalition, EaseMyTrip.com and more.
Wholesale insurers are empowered by the ability to respond to catastrophes with appropriate risk-based pricing.
What was once pure science fiction is now fact as criminals are leveraging AI advances to swindle billions of dollars.
From milk production coverage to income protection policies, insurers worldwide are taking novel approaches to lessen the blow from heat waves.
To succeed in the metaverse, businesses must consider how they will collect, use and manage data as they enter this uncharted virtual territory.
While Japan has its own particular problems with hackers, many of its vulnerabilities are shared by the U.S.
In 2023, insurers in the Asia-Pacific region will continue to combat their exposure from risk related to the ongoing war in Ukraine, GlobalData says.
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