Thai floods to impact worldwide insurance prices, says Aon

Insurance prices around the world are set to rise in the wake of the devastating floods in Thailand, according to Aon Benfield, a risk assessment firm. The Thai floods are yet another catastrophic event that has occurred in 2011. Paired with rampaging storms in the U.S. and a horrific earthquake and tsunami in Japan, the floods have done major financial damage to the worldwide insurance industry. Estimates regarding the damage done to properties from the flooding in Thailand hovers around $10 billion, but these estimates only factor in the damage…

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Floods in Thailand claim hundreds of lives and displace thousands more

Devastating floods struck Thailand last week and threatened to cause catastrophic damage to the nation’s capital, Bangkok. The floods are the result of heavy rainfall and violent storms that have been occurring throughout the country and in neighboring Myanmar. The recent floods are the worst the country has experienced in over 50 years and have killed more than 350 people thus far. Thousands more have been displaced as the relatively few insurance organizations operating in Thailand attempt to mitigate the disaster. The Thai government, led by Prime Minister Yingluck Shinawatra,…

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