INSURANCE CLAIMS – QUEENSLAND

Insurers dented $1bn by city hail

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Original article by Andrew Main, Mitchell Nadin
The Australian – Page: 3 : 16-Jan-15

Data from the Insurance Council of Australia shows that Brisbane’s "superstorm" in November 2014 has resulted in a total of 100,223 insurance claims to date. The total value of insurance claims has topped $A1.040bn, although this is likely to increase. Meanwhile, insurance claims arising from the bushfires in South Australia’s Adelaide Hills have totalled about $A24.9m so far

CORPORATES
INSURANCE COUNCIL OF AUSTRALIA LIMITED, MARSH PTY LTD

Win for consumers as premiums to weaken

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Original article by Ruth Liew
The Australian Financial Review – Page: 17 : 16-Dec-14

Suncorp Group’s Anthony Day says a competitive market should result in lower commercial insurance premiums in 2015. The head of commercial insurance forecasts that insurance rates will stabilise after falling in the first several months of 2015. Meanwhile, Day says the recent storm in Brisbane is likely to cost Suncorp no more than $A250m in insurance claims

CORPORATES
SUNCORP GROUP LIMITED – ASX SUN, NATIONAL INSURANCE BROKERS ASSOCIATION OF AUSTRALIA, WILLIS GROUP HOLDINGS LIMITED

Low premium rises tipped

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Original article by Ruth Liew
The Australian Financial Review – Page: 16 : 15-Dec-14

Insurance Australia Group’s Andy Cornish says the storm that hit Brisbane in late November 2014 should not have much impact on premiums. He forecasts a single-digit increase in its premiums for home and car insurance in 2015. The general insurer has received more than 15,000 claims arising from the storm, and it expects to pay out between $A140m and $A150m

CORPORATES
INSURANCE AUSTRALIA GROUP LIMITED – ASX IAG, SUNCORP GROUP LIMITED – ASX SUN, NRMA LIMITED, CGU INSURANCE AUSTRALIA LIMITED, LUMLEY INSURANCE GROUP LIMITED, COLES INSURANCE