Prices for reinsurance contract renewals have not significantly increased despite rising costs from a broad range of natural disasters over the last few years, according to a Financial Times report.
The report, which cited data from reinsurance broker Willis Re, revealed that the increasing occurrence of devastating storms and wildfires, as well as courts awarding more “generous” pay-outs for a range of claims from medical malpractice to auto accidents, have not led to substantial increases during the January 01 renewal season.
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