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Australia: IAG catastrophe insurance costs to rise

Source(s): Australian Broadcasting Corporation
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by Flickr user annzstream / Ann (Helen) Devereux, Creative Commons BY-NC-SA 2.0, http://www.flickr.com/photos/hadevereux/4956079499/
by Flickr user annzstream / Ann (Helen) Devereux, Creative Commons BY-NC-SA 2.0, http://www.flickr.com/photos/hadevereux/4956079499/

According to ABC, Insurance Australia Group says it will pay more for catastrophe insurance cover this financial year, with a total of up to $720 million reinsurance cover including for catastrophes, up from $620 million in the 2011 financial year. The company says it will have insurance protection of nearly $5 billion in 2012, including coverage for earthquakes and floods.

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Hazards Earthquake Flood
Themes Insurance and risk transfer Economics of DRR
Country and region Australia
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