Floods prompt reinsurance premium rises
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Virabongsa Ramangkura, head of strategic committee for flood recovery concedes today that foreign insurers may charge higher premium rate of flood protection coverage in the first year of reinsurance renewal contracts with firms operate in flood risk are
The premium would fall back later after the government put in place flood preventing measures, he assures.
He will go to Japan next week to meet with insurers, investors and government officials to assure them on government top priority on flood prevention. He just came back from London meeting with giant European insurers.
