9/24/2018 5:51:00 AM

Source: Business Insurance

U.S.-based ratings agency A.M. Best Co. Inc. said that lack of risk modeling is hampering insurers in the Gulf Cooperation Council region to predict flood and fire-related losses, Middle East Insurance Review reported. Mahesh Mistry, senior director of analytics at A.M. Best, said that floods and fire are increasingly causing large losses with the current risks different from those perceived previously in the region.