UAE flash floods likely to be manageable for insurers

According to an analysis by A.M. Best Co., the cost borne by primary insurers in the U.A.E. are expected to be at a manageable level after the recent storms that caused severe flash flooding, due to low insurance penetration and extensive reinsurance cover, Reinsurance News reported. The rating agency added that the flooding resulted in claims for property, business interruption, and motor insurers in the region.