Beirut port explosion, new loss estimate

Beirut port explosionAccording to the latest estimate of the Association of Insurance Companies in Lebanon (ACAL), the economic damage caused by the explosion in Beirut is believed to reach 7.5 billion USD. The insured losses range between 1 and 1.5 billion USD.

The devastating explosion took place on 4 August 2020, causing the death of 220 people. The disaster left considerable damage to the port area and buildings located several kilometers away.

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