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Indonesia: January 2014 floods will not hit insurers as severely as last year, says Fitch


Fitch Ratings Inc. said the total insured loss from the January 2014 floods will be below 2013's 638 billion Indonesian rupiah ($53.2 million), The Jakarta Post reported.

Fitch said claims are expected to be lower because most of the floods took place in suburban areas with relatively low coverage.

Another credit buffer, Fitch said, was reinsurance coverage.

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