Death Toll Mounts, But Insured Loss Modest Domestic and European carriers face bulk of losses affecting 12 countries
The deadly tsunamis that have killed at least 76,000 and perhaps over 100,000 people in a dozen countries from East Africa to southern Asia are expected to be a relatively small claims event for the U.S. property-casualty insurance industry, although reinsurance losses could have an impact on global pricing, according to market participants.
Insurance analysts observed that theres been little appetite for p-c insurance in many of the emerging markets that were hit by the catastrophe aside from tourist destinations such as Phuket in Thailand and the Maldives.
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