Middle East conflict could become costliest PV loss on record

Howden Re estimates insured losses could reach up to $3bn, putting the event on course to become the most expensive loss in the history of the war, terrorism and political violence market

THE ongoing conflict in the Middle East is on track to become the costliest event ever for the war, terrorism and political violence (WTPV) insurance market, with insured losses estimated at between $2bn and $3bn, according to Howden Re.