Guy Carpenter, a reinsurance brokerage firm, said it is "unlikely" that there will be significant financial impact on insurance markets from the July 7 bombings in London, but it should increase pricing on stand-alone coverage.
In a report issued yesterday, the firm, which is a subsidiary of New York-based Marsh & McLennan Companies, said estimates put losses at no more than ?60 million ($105 million U.S.), with minimal exposure to reinsurers, no more than $12 million for one insurer.
However, reinsurers "are expected to review their perceptions" of the risk, especially in examining accumulative "event scenarios," with more attention being paid to transportation systems rather than buildings alone.
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