Editor's Note: This article originally appeared in National Underwriter, P&C.
Insured losses from the earthquake in Haiti are likely to be small, as insurance penetration there is far below one percent, according to a Munich Re expert addressing an audience via webinar.
During last week's presentation entitled, "2009 Natural Catastrophe Year in Review," Ernst Rauch, head of corporate climate change for Munich Re, said losses will be small, but he added there are some facultative risks with high insured values that have been hit and could influence the overall market loss.
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