Technology
QBE boosts funds for catastrophic weather claims – Insurance Business Australia
The decision comes after a year of unprecedented weather events in Australia
QBE interim chief executive Richard Pryce told Brisbane Times he was confident that QBE could “drive appropriate margin expansion” this year, given its boosted reinsurance program that considers greater exposure to more frequent and severe weather events.
Read more:QBE forecasts AU$1.97 billion net loss in 2020
KPMG partner and insurance expert Scott Guse said insurers might need to increase premiums or reduce costs to pay for reinsurance to protect them from mass claim events.
“There are a number…
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