NU Online News Service, Aug. 12, 3:38 p.m. EDT

Severe flooding in China this summer has caused massive destruction and tens of billions of dollars in damage, but is unlikely to have a large impact on the insurance industry, Guy Carpenter & Company’s Instrat unit said.

Guy Carpenter issued a report, “Floods in China: August 2010,” and said that flooding has left more than 2,100 people dead or missing country-wide and has caused damage–including the destruction of homes and infrastructure–across 28 provinces and regions of China.

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