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Property casting a major shadow over re/insurance market: Lockton

December 20, 2022

Insurance and reinsurance broker Lockton has released a report suggesting the property sector is casting a major shadow over the market, despite conditions in other lines remaining largely predictable.

In its report, Lockton explains that the P&C insurance market was previously on a path toward stabilisation before the event of Hurricane Ian, which ravaged Florida and other parts of the Southeastern US.

Hurricane Ian will ultimately cost the insurance industry an estimated $50-$65 billion, making it one of the largest disasters in US history.

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