Expert: Many Sandy-claims payments are backed by global reinsurers

02/28/2013 | Insurance Networking News

International reinsurers are financially sound and are expected to help insurance companies with many payouts related to Hurricane Sandy, says Brad Kading of the Association of Bermuda Insurers and Reinsurers. Hurricanes could cause an average of $10 billion in insured losses in the U.S. every four years, Kading said, citing a report from Karen Clark & Co. "With the potential losses from extreme weather on the rise, the need for global reinsurance will continue to expand," Kading says.

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