Reinsurers to cap on liability claim for disasters

The global reinsurers are thinking to impose a limit on the maximum liability that non-life insurers can claim for a catastrophe as a result of huge claims from natural calamities in Japan, Thailand and Australia last year. GIC Re the indian reinsurer is also planning to put a cap on catastrophe insurance limit.

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Insurance and Reinsurance of Terrorism Risk

Terrorism is a new risk posing challenge for the insurance industry. The terrorist acts of September 11, 2001 have caused many changes in the global terror insurance market. One major trend is the exclusion of terror risk in contracts by numerous insurance and reinsurance companies globally.

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