Swiss Re Issues Tsunamis Claim Estimate
NU Online News Service, Dec. 30, 3:47 p.m. EST?Swiss Re said it estimates its claims related to the recent calamity from the tsunamis in the Indian Ocean region to be below CHF 100 million (Swiss Franc or $88.01 million U.S.)[@@]
The Zurich, Switzerland-based insurer went on to say that the sheer size of the event and the absence of historical data available make it difficult to provide an exact estimation of the damage, particularly as information from the affected areas is still scarce. However, the claims cost for the insurance industry will be in sharp contrast to the human and economic losses triggered by this event as the insurance penetration in the coastal areas of the affected countries and the concentration of value is comparatively low.
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