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Insurance Business | 14 Sep 2015, 08:46 AM Agree 0
A member of the reference panel of the Northern Australia Premium Taskforce has allayed the fears of brokers who are concerned they will be cut out of the market if a mutual goes ahead.
  • Magnus Carlssen | 14 Sep 2015, 10:10 AM Agree 0
    Well written, and agree. A classic mutual is the NZ EQC - which provides capped cover solely for residential property against Natural disaster (Earthquake, Volcanic Eruption etc.). This has not distracted the purchasing of other perils insurance, however - it does lower the GWP to insurers and accordingly commission to brokers. The other option that insurers are wanting to put forward as a solution is mitigation.. can someone please advise how exactly you mitigate against 300KMPH winds (damage to property including that caused by flying debris that acts like a javelin), gale force rain, associated storm surge..etc etc
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