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Primary insurers retain more risk for high-frequency secondary perils


Peter Askew, chief executive for Canada at Guy Carpenter & Company Ltd., said that primary insurers are retaining more risk for high-frequency secondary perils as reinsurers restricted terms and conditions, alongside increasing pricing, Canadian Underwriter reported. Reinsurers are signalling that they are more interested in covering primary insurers’ high-severity losses than their high-frequency losses by requiring higher attachment points.

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