Claims to be well in excess of GXL US$100m attachment point, leaving reinsurers bearing bulk of insured cost, but risk understood to be spread across 80 reinsurers.
Container ship collided with bridge, causing it to collapse and sending people and vehicles into the Patapsco River, with initial estimates suggesting damage could run into the billions.
HKO predicts 'normal to above normal' frequency and warns of high temperatures, following year where Super Typhoon Saola and severe flooding resulted in HK$2.26bn (US$287.1m) in insurance claims.
