Italy October quake insurance loss to total $33 million: Perils

Switzerland-based catastrophe insurance market data provider Perils A.G. has said that the series of earthquakes that hit central Italy in October are estimated to have caused property insurance and reinsurance losses of €31 million ($33 million), Artemis.bm reported. The majority of the loss is expected to be handled by primary insurers, with reinsurance capital providing little support as earthquake insurance penetration in Italy is low.

Read more.