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Monday, 21 November 2011

Vero CEO on disaster insurance in New Zealand

Australian insurance website reports on an address by NZ Vero CEO Gary Dransfield given to the Trans Tasman Business Circle in Auckland last week. The full report is here.

Amongst the issues raised by Dransfield was the need for EQC to continue in an expanded role with greater capital behind it. One expansion would be to provide some level of insurance support for commercial properties. Another would be as a buyer of reinsurance for local underwriters (the Pharmac of the insurance industry?).

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