Don’t be fooled by all the chatter about cyber and natural catastrophe losses – the top causes of loss ranked by total value of claims between 2013 and 2018 were fire and explosion, according to Allianz Global Corporate & Specialty’s (AGCS) Global Claims Review.
The report zeroed in on global developments in corporate insurance claims, and based its findings on the analysis of over 470,000 corporate insurance claims with a total value of US$66.5 billion from 206 countries and territories. Not only did fire and explosion come out on top, but these risks also led by a significant margin, accounting for 24% of the value of all claims.
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