Risk insurance rates could see significant rise

02/9/2009 | PropertyCasualty360

NAPCO CEO David Pagoumian said commercial insurance clients could see double-digit increases for catastrophe risk coverage in the aftermath of a destructive storm season and turbulent financial markets. "Damage caused by Gustav and Ike, combined with several single-location losses in excess of $500 million each, made 2008 one of the two or three worst years on record for catastrophic losses," he explained.

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