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International

Insurance industry underestimates hail losses

November 25, 2022 Reprints

Tamara Soyka, head cat perils EMEA at Swiss Re Institute, said that hail events are being underestimated in current French insurance industry benchmarks despite the country facing frequent and severe hailstorms, Reinsurance News reported. Ms. Soyka cited the French Federation of Insurance’s claims estimates for hail storms this year, which reached a record high of €4.8 billion ($5 billion).

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Insurance industry underestimates hail losses

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