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According to Louisa Vinton, Turkey resident representative of the United Nations Development Programme, damage from the massive earthquakes that struck the country on Feb. 6 is now expected to exceed $100 billion, Reuters reported. The damage figure is much higher to the World Bank’s earlier estimate of around $34 billion. The quakes have already claimed the lives of over 52,000 people and caused extensive destruction throughout the nation.
1. Swiss Re faces $6.3 million claim over sexism, unfair dismissal
2. Court rejects Aviva’s motion to dismiss class action over BI losses
3. Dollar crisis hits reinsurance payments of over $100 million
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5. New reinsurer to provide additional insurance capacity of $2 billion
6. Australian insurer faces second class action suit over data breach