Approach to risk has been challenged by 2011 catastrophes says Marsh

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In a paper entitled Lessons Learned from the Catastrophes of 2011, Marsh identified five major risk and insurance topics arising from 2011: denial of access; strike, riot, civil commotion or terrorism; the differences between flood and storm damage; contingent business interruption; and 72-hour insurance notification clauses. David Pigot, chairman of Marsh’s Global Claims Practice, commented: “While the risks associated with the events of 2011 were largely understood, their sheer scale and compl