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Engineering insurance rates to stabilize over next two years



A white paper by French insurance broker Siaci Saint Honore SA said that the Middle East construction and engineering insurance market is expected to slow while rates may stabilize at current levels over the next two years, Middle East Insurance Review reported. Huge losses across facultative reinsurance arrangements for construction and engineering have led to tightening of reinsurance capacity for insurers as they cope with the fallout from these losses and COVID-19.

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