In a development likely to reignite the debate over the need for a standalone reinsurance product, significant contingent business interruption (CBI) claims have hit the fac market following a fire at an auto parts factory in the Czech Republic, Inside FAC can reveal.
The facility is owned by Belgian automotive component parts manufacturer Recticel.
CBI insurance continues to be sold as an extension to property programmes. It reimburses lost profits and extra expenses resulting from an interruption of business at...
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