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Last year was one of the costliest years for insurers in history, with record-setting Atlantic hurricane losses amounting to $43 billion, as well as man-made catastrophic disasters culminating at $7 billion — nearly double the annual averages from 2007. With claim costs averaging 60 to 70 percent of an insurer’s costs, losses could add a minimum of three to four points on operating costs. This is not a good thing in the current market environment.

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