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Natural disasters force insurance rethink.
(From Lloyds List)
Byline: Delay insurance can provide much-needed cover, writes Claudio Blancardi
IN THE most dramatic and dreadful way, nature has again reminded us that we should never underestimate its awesome power.
The tsunami that visited such savage and widespread death and destruction was the final blow in a year notable for freak weather, and one that cost the insurance industry dearly. A recent newspaper report reminded us that natural weather disasters cost insurers an estimated GBP18.5bn ($35bn) in 2004.
Freak weather or evidence of climate change? This is the big debate. But one thing the experts agree on across the world the …
