Unlimited liability will end say Reinsurers
The Reinsurance sector has indicated that it is not going to cover unlimited liability indefinitely. Some French business and the UK third party motor liability market are still written on an unlimited basis but Reinsurers such as Swiss Re and Munich Re have said that it will have to stop. Speaking at the Monte Carlo Rendez Vous Munich Re CEO Nikolaus von Bomhard said that the aim was to cease writing any unlimited business by 2006.
Swiss Re have also made it a priority. Thomas Hess, head of economic research and consulting, said that: "liability insurance has to respect the borders of insurability and price." He went o toOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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