Nearly 70% of financial losses worldwide arise from 10 causes of loss, with the largest single identified cause being ship groundings, reflecting the high values of modern shipping risks, followed by fires and aviation crashes, according to a report from business insurer, Allianz Global Corporate & Specialty (AGCS).
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As of the end of July 2014, Bermuda has registered 41 new insurers, along with a total of 11 intermediaries: four agents, four managers and three brokers, reported Intelligent Insurer.
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