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(From Reinsurance)
Byline: Yves-Daniel Cochand, Daniel Corbaz and Bertrand Logoz.
French property (re)insurers continue to be challenged by the two major loss events of September 2001. Firstly, the industry had to address the general question of the insurability of terrorism risks following the attack on the World Trade Centre (WTC). Secondly, insurers face issues relating to the indemnification of losses resulting from industrial catastrophes in the aftermath of the explosion at the Azote de France (AZF) chemical factory in Toulouse.
For liability (re)insurers, legal developments and the existence of unlimited covers have made it all but ...