Reinsurers eyeing flood insurance in Netherlands as competition intensifies

Growing competition in the reinsurance market have prompted the biggest reinsurers to cover floods in Netherlands, reports Bloomberg.

Swiss Re Ltd. and Munich Reinsurance Co. already are set to provide cover for the risk, which many shunned for a long time. Convincing insurers to offer flood coverage first is a major challenge to the reinsurers. Several insurers scrapped Dutch flood insurance following considerable damage during an inundation 61 years ago, Bloomberg reports.

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