$Are you wondering what your premiums are paying for???
Let’s do the numbers:
9 – Percentage of the new stamp duty on general insurance products in Queensland after the State government increased the level from the previous 7.5%.

13.8 Billion Dollars – Australian Dollar cost of natural disasters in the State of Queensland since 2012.

4.21 Billion – Combined profit in dollars of insu…rers and reinsurers in Australia for the year to December 31, 2012.

23 Billion – Predicted annual costs in dollars of natural disasters in Australia by 2050, up from 6.3 billion now.

5 – Number of years New Zealand’s insurance and savings Ombudsman believes complaints related to Canterbury earthquake claims could continue.

10 Billion – Amount in US dollars of new capital that has entered the globel reinsurance market through catastrophe bonds, sidecars and collateralised structures over the past 18 months.

3 Million – Amount in New Zealand dollars being paid by insurances each day in residential claims settlements from the Canterbury earthquakes.

(These statistics are brought to you by Insurance Business News)