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A report found that insurance rates jumped more than 18% in the Pacific region in the second quarter of this year compared with a nearly 6% hike worldwide, Asia Insurance Review reported. The report by U.S.-based insurance broker Marsh & McLennan Cos. Inc. found that property insurance prices increased by nearly 18% while casualty rates rose almost 6% in the Pacific region.
1. Turkish airlines cancel flights to Iran and Iraq amid war concerns
3. Zurich Insurance to stop underwriting new oil and gas projects
4. Bermudan, European reinsurers to suffer major hit from bridge collapse
5. Tycoon gets death sentence for multi-billion-dollar fraud
6. Inflation drives 10% increase in sum insured for windstorms