Technology
QBE increases funds for catastrophic weather claims – Insurance Business NZ
Decision comes after a year of unprecedented weather events
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.
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 of levers that insurance companies can pull, pricing is…
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