Posts Tagged ‘Haiti’
Earthquake in Haiti
January 14th, 2010
The catastrophic earthquake in Haiti this week is even more devastating because the country has little to no history of insurance or risk management. The country is identified as the poorest in the Western Hemisphere. Some multinational corporations have interests there, but beyond those companies, it is unlikely that a small, local, family businesses possesses any insurance to help in rebuilding.
An article in the Wall Street Journal this week notes that, as of Wednesday, only German reinsurer Hannover has stated it has any exposure. While this may be good news for the international insurance market, it points to a significant underlying problem in burgeoning economies: the absence of private insurance.
Tags: Haiti
Posted in Insurance General | No Comments »