Reinsurers may escape Typhoon Lan losses

The damage caused in Japan by Typhoon Lan's flooding rains
and high winds likely won't be severe enough to trigger
reinsurance claims, sources have told The Insurance
Insider.
For an event to attach the industry loss needs to be in the
region of $3bn to $4bn. The loss quantum remains highly uncertain
at this stage, but most expect it to be below this range.
Wind risks are only covered by reinsurers on an excess-of-loss
(XoL) basis, and insured damage must...