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Member, Beacon International Group, Ltd.
A.M. Best Co. Inc. said in a report that insurers in the Gulf Cooperation Council need to assess and manage their exposure to floods, reported Middle East Insurance Review.
The flooding events can affect an insurer's operating results and balance sheet strength through a number of exposures, said the rating agency.
"As insurance awareness and penetration increases across the GCC, exposures are likely to increase, making this a greater risk for insurers," said A.M. Best.