Severe flooding, earthquakes, hurricanes and other disasters are leading to massive catastrophic losses. Insurance companies are feeling more than just a pinch from providing coverage in China. The country has faced massive severe rainstorms, flooding and other disasters, and they are becoming increasingly commonplace. July’s flooding in Henan broke a record for single most costly event with $1.7 billion in insured losses. This has been particularly hard on insurance companies selling property and casualty coverage, said an S&P Global Ratings report tracking losses to August 3. The rainfall in Henan…
Read MoreInsurance companies take a powerful hit from severe weather in China
