Beirut explosion

Crawford looks at the comparisons being drawn between the Beirut disaster and the Tianjin explosion of 2015, which resulted in total insured losses of up to $3.5 billion. The Beirut explosion was even more powerful than that in Tianjin, causing property damage across a wider blast radius. However, insured losses are not expected to reach Tianjin levels as insurance penetration is relatively low in Beirut and the insured value of cargo stored at the port is also likely to be lower than in Tianjin, where there was a high concentration of expensive automobiles.

Read now