Property D&F market faces $250mn-$400mn Gap loss

A fire at a warehouse belonging to US retailer Gap could
generate a loss of $250mn-$400mn for the property direct and
facultative (D&F) market, The Insurance
Insider can reveal.Ascot is understood to be the overall lead on the programme,
while XL Catlin and Endurance also write lead lines.In a complex placement (see graphic), Ascot has a 25 percent
line on the primary $25mn xs $0mn layer, as well as a 10 percent
line on a $300mn xs $250mn...