Italy quake insured losses to be minor: AM Best

The earthquake that struck central Italy last week (24 August)
is unlikely to have a large effect on the country's insurance
industry, according to AM Best.
In a briefing today, the ratings agency said that while the
quake could result in significant economic losses it expected the
impact on the insurance industry to remain contained, due largely
to the low earthquake insurance penetration rate.
AM Best said that the penetration rate of earthquake insurance
stood between 1 percent and 2...