11 September was the largest catastrophe to hit the insurance markets. Coming on the back of a US downturn and a soft market it left a number of insurance companies financially exposed. But the industry has not taken this lying down, says Steven Blair
Legal Week Reports
There is no doubt that 11 September was the largest catastrophe that has hit the markets (estimated at $40-50bn (£25.5-31.9bn) of which 50% is reinsured). Prior to 11 September the largest catastrophes were natural ones in the form of Hurricane Andrew and the Northridge Earthquake($15-20bn)(£9.5-12.7bn).
This premium content is reserved for
Legal Week Subscribers.
Subscribe today and get 10% off.
A PREMIUM SUBSCRIPTION PROVIDES:
- Trusted insight, news and analysis from the UK and across the globe
- Connections to senior business lawyers within the leading law firms and legal departments
- Unique access to ALM's unrivalled, market-leading reporting in the US and Asia and cutting-edge research, including Legal Week's UK Top 50 and Global 100 rankings
- The Legal Week Daily News Alert, Editor's Highlights, and Breaking News digital newsletters and more, plus a choice of over 70 ALM newsletters
- Optimized access on all of your devices: desktop, tablet and mobile
- Complete access to the site's full archive of more than 56,000 articles
Already have an account? Sign In Now
For enterprise-wide or corporate enquiries, please contact Paul Reeves on Preeves@alm.com or call on +44 (0) 203 875 0651