Tag: Cyclone Yasi

Many predict insurance rates to increase in upcoming years for Australians due to a relentless wave of natural disasters thrashing the countryside. How much of an increase is hard to say, analysts and insurance companies are calculating the total financial loss from the Queensland flood and Cyclone Yasi, and will adjust accordingly. Wild figures being thrown out of 30% rate increases have been talked down by Patrick Snowball, chief executive of the Suncorp Insurance Group, the largest insurer of Australia. Stating it’s still too early to tell but insurance companies…

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