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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.

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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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