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QBE’s hotspot ‘worry’ list reveals extent of pandemic catastrophe – Sydney Morning Herald

COVID-19 is the black swan event that insurers couldn’t predict and actuaries will find difficult to model.



Secondly, the companys response to enhanced risk and the high claims environment has been to significantly increase premiums. In the second quarter, the group-wide insurance renewal rate was boosted by 10.1 per cent.
At this stage QBE expects COVID-19 to cost it $840 million over the next 18 months. Of this, it will take a $470 million hit in the six months to June 2020 – an amount that includes a $160 million buffer for uncertainty.
But whats most interesting about QBEs financial update is th…

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