The deadliest mass shooting in modern U.S. history is adding tosoaring costs for insurance companies, which are already taking abeating this year from an onslaught of hurricanes, earthquakes andwildfires.

The industry may have to shell out more than $1 billion for theLas Vegas massacre, insurance executives say. Acts of a sologunman, who killed almost 60 people and injured about 500 otherswhen he fired into the crowd of a country music festival lastmonth from his Mandalay Bay hotel room, have resulted in multiplelawsuits. Victims have accused the hotel and its owner, MGM ResortsInternational, and concert promoter Live Nation Entertainment Inc.,of failing to protect people at the event.

The shooting will drive up man-made disaster costs for insurers,after losses for such incidents worldwide totaled $7.8 billion in2016, according to data from reinsurer Swiss Re. Brokers andlawyers expect claims related to the Las Vegas incident from lifeand health insurance, and class-action lawsuits, to continue foryears.

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