Insured losses set to rise as Bangkok industrial estates now face flooding
More districts of Bangkok have been ordered to be evacuated today as floodwaters head south across the Thai capital, threatening another two major industrial estates and raising the prospect of mounting insured losses.
Early indications from the local market were cited by Aspen Insurance CEO Chris O'Kane in the company's Q3 earnings call as pointing to a potential insurance bill of $4bn to $10bn from the flooding.
Highlighting commercial and auto manufacturing exposure for the sector, O'Kane said that, although...
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