Increase in disasters proves costly for insurers, group says

07/19/2013 | Bloomberg

Property/casualty insurers are losing billions of dollars in claims payouts with the increased frequency of weather-related disasters, according to the Reinsurance Association of America. "The industry is at great financial peril if it does not understand global and regional climate impacts, variability and developing scientific assessment of a changing climate," RAA President Franklin Nutter said at a congressional hearing.

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