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As reported in The Australian, "The weather has been so bad that Insurance Council of Australia chief executive Andrew Hall has warned governments they need to reconsider where and how they allow people to build houses."
- "QBE has faced massive natural catastrophe claims, reporting in February a $US668m disaster payout for the year.
- QBE stepped up its large risk and catastrophe claims ratio in the half to 15.1 per cent, from 13 per cent the year before.
- Unlike fellow listed insurers Suncorp and IAG, the company is yet to disclose the cost of recent wild weather that ripped through Australia.
- Suncorp warned it expected $250m in claims from storms that lashed South Australia, Victoria, and Tasmania, while IAG notched up a $169m blowout." The Australian
‘The weather has been so bad that Insurance Council of Australia chief executive Andrew Hall has warned governments they need to reconsider where and how they allow people to build houses.‘
Once again, this underpins the need to resolve and quantify real world risk in order to accurately identify vulnerable locations while ensuring those areas which have lesser impacts are not denied coverage.
This means real data, not synthetic.
This can only be achieved with risk intelligence mapping at high resolution.
EWN’s historic and operational data sets are unique and combined with quantitative analysis can be confidently employed in active decision making to mitigate risk today and into the future.
Australia's climate and the associated risk is changing for businesses. EWN's climate risk support platform provides a way for businesses to:
Analysis is available on a wide variety of hazards and severities ensuring your climate risk disclosure report covers all aspects of your physical risk.
You can read the full article here.
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