Business: Earthquake could cost insurers at least US$2.5bn-2.6bn

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Insurance News - Tuesday, March 2, 2010

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Free Content of the day

* Earthquake could cost insurers at least US$2.5bn-2.6bn - association - Chile

Chilean insurance association AACH is estimating insurers will have to pay at least US$2.5bn-2.6bn to cover damage stemming from a massive 8.8-magnitude earthquake that hit central and southern Chile on Saturday, insurance association AACH chairman Mikel Uriarte told press on Monday.

The estimate is based on claims paid in a 1985 magnitude 8 quake. Back then, insurers paid out 7.2% of total damage incurred in the country.

However, these numbers are bound to rise as information on the full ext ... more
http://www.bnamericas.com/news/insurance/Earthquake_could_cost_insurers_at_least_US*2,5bn-2,6bn_-_association/176602121

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* David Ross, David BattmanCEO of AJG International, director of development & strategy - Arthur J Gallagher (AJG)<p><em>Insurance brokerage Arthur J Gallagher just made its full entry into Brazil in February with the purchase of its long-time correspondent broker partner in the country, Securitas Re - a S&atilde... more

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