Insurers forced to cut back after disastrous year

09/1/2006 | International Herald Tribune

Insurance companies, still feeling the effects from last year's hurricane-induced record of $57.3 billion in insured damages, are reducing the amount of coverage they provide to companies at risk from natural disasters. Compared with a year ago, the amount of natural catastrophe insurance that's available has declined by an average of 15% to 20%.

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