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Insurance Business | 04 Nov 2014, 08:57 AM Agree 0
A major Australian insurer has given its ideas for an alternative plan for North Queensland.
  • Scott | 04 Nov 2014, 10:59 AM Agree 0
    I recently received a quotation for a building in FNQ with a low flood exposure. Where all other Insurers applied a modest loading for flood, Allianz charged an additional $90k ! The above comments is in absolute contradiction to what Allianz are offering. The reason Insurers are against the comparitors as it will expose their irregular and overpriced policies. If they had full confidence that their policies were priced fairly, then a comparitor site wouldn't generate any concern.
  • The (Northern) Oracle | 04 Nov 2014, 11:19 AM Agree 0
    I think Nick Schofield is on the money. In my view it's a signal that other insurers may consider entering the market if Schofield's suggested levers are in place. The RI subsidy plan needs to be urgently taken off the shelf & reviewed by the ICA - especially in light of the UFI madness being spruiked by the Feds. The ICA mantra that the House Insurance market is working in Northern Australia is a head in the sand mentality.
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