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Loosening of terms could be reversed following recent catastrophe losses: Official

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Rob Procter, chief executive of U.K.-based investment manager Securis Investment Partners L.L.P., said that the loosening policy terms and conditions in recent years are likely to be reversed following recent large catastrophe losses, Artemis.bm reports. Mr. Procter said that the insurance-linked securities market and other markets need to stop and reverse the terms and conditions creep. The trend has resulted in marine, terror and cyber to creep into reinsurance and retro coverages. "That is one thing that we are focused on, ensuring that it becomes a pure property market again," he added. 

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