Insurance news from Australia shows surprising spending of disaster payouts

insurance news

Many victims are using their funds to help to pay their vet bills for pet care. A recent insurance news report has shown that the disaster emergency fund payments are being spent in ways that were not expected, as data indicates that thousands of policyholders are spending half of the money they collect on veterinary bills. The statistics were collected through cumulative figures generated by emergency fund debit card use. In order to help disaster victims as quickly as possible, the insurance news reported, insurers have been issuing debit cards…

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Reinsurance company reports market strength despite major disasters

Willis Re, the reinsurance division of Willis Group Holdings (NYSE: WSH), has released their stimulating report “Shaken and Stirring”. Stirring is an understatement. The report shows that with the devastation in Japan, New Zealand, Chile and the Australian floods is still not enough to bring a hard market into play. The report finds that there has been rate increases on Natural Catastrophe Excess of Loss of between 5 and 50 %, but the recent massive earthquakes in Japan and New Zealand’s South Island are not significant to push market-wide pricing up.…

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