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Over $1 billion in insurance claims for Beirut blast reported

Beirut explosion

A report by Lebanon's Insurance Control Commission showed that insurance claims worth 1.66 trillion Lebanese pounds ($1.1 billion) had been filed for damage caused by the Port of Beirut explosion through Nov. 6, Business News reported. Fire insurance dominates the overall claims value, followed by contractors’ all-risk insurance. Almost 95% of the total claims value is reinsured.

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