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Member, Beacon International Group, Ltd.
Rodrigo Salas, senior director for insurers at Fitch Ratings Chile, said the large fire that killed an estimated 15 people in Chile's Valparaiso city will have a limited impact on insurers, BNamericas reported.
Mr. Salas attributed this to the low level of fire insurance penetration in the affected regions.
Moreover, Chilean property/casualty insurers have adequate reinsurance coverage for their fire insurance business, he said.