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Insurers Scramble For Cover In Chaotic Property Re Mkt.

London Editor

The recent January renewal season for property-catastrophe risks was described by one and all as chaotic, late and often expensive for reinsurance buyers. The seasons lateness was the result of the uncertainties that hit the market post-Sept. 11, as well as negotiations over new exclusions for terrorism, cyber-liability and sometimes even mold, sources say.

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