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Insurers look to develop new products to cover climate risks

Posted On: Jul. 24, 2019 5:42 AM CST

The Kuwait Insurance Federation said that local insurers are looking to develop new products to cover climate change-related catastrophe risks and diversify their business geographically to reduce overall losses, Middle East Insurance Review reported citing sources. Khaled Al Hasan, the federation's president, called on the government to make property insurance mandatory against disasters such as floods and earthquakes.

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