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Barrett808 Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-07-11 01:19 PM
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Australia weather disasters may drive out re-insurers
Suncorp Group chief executive Patrick Snowball has warned that reoccurring natural disasters might drive multinational re-insurance companies out of the Australian market.

Speaking to ABC TV’s Inside Business, Mr Snowball said that many people in Queensland did not have flood insurance, which was causing re-insurers to avoid targeting the state.

He said the driving force of premiums in the global re-insurance market was the frequency of natural disasters.

“We’ve got to understand that if this becomes a year-in, year-out problem, the re-insurers are not going to be looking to their premium being risk mitigation in Australia, they’re going to think that it’s going to have to carry a premium,” he said. ...

Australia weather disasters may drive out re-insurers
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Wilber_Stool Donating Member (1000+ posts) Send PM | Profile | Ignore Mon Feb-07-11 02:29 PM
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1. Mr. Snowball?.......n/t
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