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The Luxembourg Insurance and Reinsurance Association has estimated €125 million ($147 million) in total insured loss from the July floods that damaged businesses, houses and vehicles.
The U.K.’s Financial Conduct Authority has raised concern over Lloyd’s of London and London market insurers’ shortcomings in providing fair value to the corporate customers and ensuring contract certainty.
Reinsurers Munich Reinsurance Co. and Swiss Reinsurance Co. Ltd. have refused to reinsure a mutual fund proposed to cover the Australian coal industry risks, as the fund does not align with their climate policies.
Insurer Aon plc announced the launch of a new offering aimed at increasing the resilience of businesses in the UK and the Europe, Middle East, and Africa