REINSURANCE – EU CONCERN
September 1st, 2005
BY KEITH NUTHALLA REPORT written for the European Commission before Hurricane Katrina could be something of a harbinger of doom for reinsurance, warning that a major disaster could put unbearable pressure on operators.Written by consultants IMCC for the Commission's competition directorate general, it said the reinsurance sector withstood the September 11 attacks "partly due to a lack of other disasters in the years previously". Also, the Tsunami did not affect insurers greatly "as those who suffered most were mainly uninsured". But it added: "If there were a ...
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