Increasingly adverse weather conditions are creating challenges for UK insurers that need to be addressed. The recent cold snap in the UK has already cost insurers millions of pounds in losses. Despite many firms having traditional reinsurance cover in place, insurers’ net retentions often suffer periods of increased frequency in loss activity. As such, new reinsurance solutions must be developed.
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Aon Benfield, Insurance news, Reinsurance news, Swiss Re, Adverse weather, WExcess, Reinsurance