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Insurers have received nearly 107,844 claims relating to the Southeast Queensland and New South Wales floods. -
The flight from volatility could have the industry poised to enter another phase of structural change.
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Claims have reached 67,537 since yesterday’s update.
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The theme of yesterday’s market briefing is that Lloyd’s is now moving into a period of growth, having completed remediation, but it wants smarter, sustainable growth.
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Claims from New South Wales are expected to increase in the coming days, given the flooding emergency in Sydney.
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Insurers will prioritise claims made by affected policyholders, and claims will be triaged to direct urgent assistance to the worst-affected property owners
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This estimate would rank Eunice as the most damaging European windstorm event since Kyrill in 2007.
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The ruling deemed that the restaurant group was entitled to separate payouts for multiple premises.
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Legal costs relating to the breach have been described as “astronomical” and sources say it is now all but certain that it would result in a full payout.
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German actuarial firm Meyerthole Siems Kohlruss warned the losses represented a “turbulent” start to the year.
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A major conflagration aboard Felicity Ace has damaged high-value VW, Porsche and Lamborghini vehicles.
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The final bill is likely to be higher as further damage occurs due to gusts of wind.
