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International

Natural catastrophes increasingly cause insurance failures

October 19, 2023 Reprints

A new report by the Property and Casualty Insurance Compensation Corp. showed that more insurance companies are failing due to natural catastrophes, Canadian Underwriter reported. The report says that catastrophic risk can be identified as the main cause in approximately 30% of global P&C insurance failures in 2021 and 2022.

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Natural catastrophes increasingly cause insurance failures

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