Magazine date:
Jul 2019 With nearly 2.4 billion USD in insured losses, fire accounts for 25% of the total compensation paid by the insurers of major construction projects over the past five years.
According to Allianz, the gigantism of the projects and the rising insured values put CAR insurers under pressure and cause catastrophic fires. For example, the works of Dubai's future Al Maktoum Airport is worth 36 billion USD.
Fire ranks first in terms of loss experience of large-scale construction risks. Political risks and international sanctions are the second and third most important concerns of insurers.
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