Cover Story – CATs : Floods and ‘Acts of God’ - A perfect storm?
Source: Asia Insurance Review | Jun 2011
A “perfect storm” describes an unusual combination of circumstances that will result in extreme outcomes – a term widely used during the global financial crisis, which resulted in a dramatic hardening of the global credit markets, government intervention, some corporate failures, and structural changes in the financial markets. The spate of major catastrophes that the Asia Pacific has encountered since 2010 has certainly been unusual. The question remains as to what outcomes will result. Mr Mike Mitchell of Swiss Re shares his views in this article.
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