This article appears courtesy of Reactions
| “I am not sure why our shareholders should be paying for this. The legal system should uphold the integrity of the insurance contract.” Patrick Thiele, chief executive of Bermudian reinsurer PartnerRe, on flood risk |
On September 13, more than two weeks after Hurricane Katrina first struck, Montpelier Re released its estimated losses from the storm. Its prediction that Katrina will cost it between $450m and $675m is not the biggest individual loss estimate for a reinsurer.
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