People say things in life are sent to test us and when you experience tragedy you reevaluate all things. I have had some major moments in my life where for some time I did reevaluate all things. The passing of my younger sister aged 31 years old from cancer, my Dad being diagnosed with kidney cancer and now living with only one very healthy kidney, but like most of us I became a prisoner to this … [Read more...]
Rising Cost of Claims
October 31, 2013 by ·
Rising cost of claims The amount of paid out to customers who make claims is the biggest single cost of any insurance company.Claims levels across Australia have reached unprecedented levels over the past year as a result of a spate of natural disasters. For example, CGU received 25,000 extra claims over the 2010/2011 summer period alone as result of events including cyclones and floods across … [Read more...]
Why are insurance premiums rising
September 12, 2013 by ·
Why are premiums rising? It is an indisputable fact that insurance premiums accross Australia are rising. Fundamentally, rising premiums are being driven by a sharp rise in claims volumes, higher claims amounts, and a substantial increase in the costs associated with meeting those claims. Recent weather-related and other natural catastrophes in Australia and in other regions around the … [Read more...]