Czechs suffer record fire loss

A $75m business interruption and property damage claim arising from a fire that destroyed a chemica...

A $75m business interruption and property damage claim arising from a
fire that destroyed a chemical plant in the Czech Republic has left
insurers facing the largest insured fire loss in Czech history.


The Spolchemie plant in Usti nad Labem, which caught fire on 22 November,
is co-insured by local insurers Ceska Pojistovna, Kooperativa and IPB.


About 90% of the loss is expected to fall to reinsurers and is likely to
intensify their calls for a reduction in co-insurance in the Czech
market.


- Turn to p26 for a full report on the Czech market.
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