NU Online News Service, Feb. 14, 10:52 a.m. EST
The government in Thailand is looking to establish what would be the largest excess-of-loss property catastrophe treaty in the world—a catastrophe fund equipped to cover losses of up to $16.2 billion.
A briefing from insurance rating agency A.M. Best Co. says the country's government is attempting to keep flood insurance available and affordable in the wake of four months of flooding in 2011 that “delivered a shocking and unexpected blow to the global insurance industry in the form of an un-modeled event.”
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