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In-sure August 2007 |
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August 2007In-sure
This month's roundup of developments affecting the insurance industry sees the European Commission's draft Directive for Solvency II and its call for further advice from CEIOPS. Also in this issue, the HM Treasury consults on the implementation of the Reinsurance Directive.
Insurance Claims could top £3bn
Insurers face more than £3bn of claims from the floods in June and July, forcing up the cost of insurance and raising questions about its availability, analysts have warned. The Association of British Insurers said it had received 8,000 claims from the flooding over the past 72 hours. Its initial estimate of the insurance losses from the deluge over recent days is £500m, taking total claims from the summer flooding to at least £2bn.
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