While UK insurers face up to flood losses following unprecedented summer rainfall, US states have instead been enduring an extended period of drought that has prompted many farmers to pull the plug on harvests early and reach for claims forms instead.
In late July, global (re)insurer Endurance Specialty was the latest of the leading multi-peril crop insurance (MPCI) underwriters to cite the impact of ongoing US drought on its 2012 financials.
Endurance booked Q2 net profits of $64.3mn, up from...
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