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Only 30% of Beirut blast damage insured

Beirut explosion

The Association of Insurance Companies in Lebanon said that only 30% of the damage caused by the Aug. 4 explosion at the Port of Beirut is insured, Middle East Insurance Review reports citing Al Roeya. If the blast was a result of a terrorist attack or war action, compensation from insurers will be limited to those who hold terrorism, political risk or war damage cover. The association expects ship and cargo insurance claims to reach $200 million.

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