my experiences: all we had was rain it was not as bad as it said on the news.
my thoughts on cyclone gita: I like rain it is fun to go outside on my scooter in the rain.
Inside of the house.
Inside of the house.Outside of the house. This happened in kaikoura^v
ATlmost everything you say is incorrect.ttttthhfvvcfgttththtEQC is an insurer. A statutory insurer. You can read the terms of its obligations in the EQC Act. Read it and stop uttering such nonsense....though I guess that's what you are paid to do.trtrvw bn yh rgr
Until 1993 EQC placed zero reliance upon foreign reinsurers.
It was Nationals 1993 'reform' which forced EQC to place ever more reliance upon outsourced foreign reinsurance.
Prior to 1993 EQC solely built reserves and relied upon the Crown guarantee. Even in 2011 EQC still had $6 billion of its own reserves.
As for claims management National in 2010 had directed EQC to engage a US company Gallagher Basset, Australia branch, to do their claims assessment- post 22.2.11 this company was shown to be so utterly incompetent that EQC had to build its own claims team in house from scratch. Echoes of Novopay.
The great reliance EQC was forced to place in foreign reinsurers not only delays claims settlement and causes endless uncertainty, it also costs a lot more than building reserves and using the Crown guarantee, both of which are the most efficient mechanisms possible as they are both 'at cost'.
But the greatest flaw of Nationals neoliberal EQC Act 1993 was the imposing of huge and ever growing risk onto general insurers who did not want that risk and are not structured in a way that is capable of or suited to carry such risk.
Not only was EQC decimated but AMI was destroyed.
We are now heavily dependent upon foreign re/insurers as a direct result of Nationals naive and misguided neoliberal 1993 reforms and Bill Englishes 2008 negligence.
Almost everything you say is incorrect.Almost everything you say is incorrect.EQC is an insurer. A statutory insurer. You can read the terms of its obligations in the EQC Act. Read it and stop uttering such nonsense....though I guess that's what you are paid to do.
Until 1993 EQC placed zero reliance upon foreign reinsurers.
It was Nationals 1993 'reform' which forced EQC to place ever more reliance upon outsourced foreign reinsurance.
Prior to 1993 EQC solely built reserves and relied upon the Crown guarantee. Even in 2011 EQC still had $6 billion of its own reserves.
As for claims management National in 2010 had directed EQC to engage a US company Gallagher Basset, Australia branch, to do their claims assessment- post 22.2.11 this company was shown to be so utterly incompetent that EQC had to build its own claims team in house from scratch. Echoes of Novopay.
The great reliance EQC was forced to place in foreign reinsurers not only delays claims settlement and causes endless uncertainty, it also costs a lot more than building reserves and using the Crown guarantee, both of which are the most efficient mechanisms possible as they are both 'at cost'.
But the greatest flaw of Nationals neoliberal EQC Act 1993 was the imposing of huge and ever growing risk onto general insurers who did not want that risk and are not structured in a way that is capable of or suited to carry such risk.
Not only was EQC decimated but AMI was destroyed.
We are now heavily dependent upon foreign re/insurers as a direct result of Nationals naive and misguided neoliberal 1993 reforms and Bill Englishes 2008 negligence.EQC is an insurer. A statutory insurer. You can read the terms of its obligations in the EQC Act. Read it and stop uttering such nonsense....though I guess that's what you are paid to do.
Until 1993 EQC placed zero reliance upon foreign reinsurers.
It was Nationals 1993 'reform' which forced EQC to place ever more reliance upon outsourced foreign reinsurance.
Prior to 1993 EQC solely built reserves and relied upon the Crown guarantee. Even in 2011 EQC still had $6 billion of its own reserves.
As for claims management National in 2010 had directed EQC to engage a US company Gallagher Basset, Australia branch, to do their claims assessment- post 22.2.11 this company was shown to be so utterly incompetent that EQC had to build its own claims team in house from scratch. Echoes of Novopay.
The great reliance EQC was forced to place in foreign reinsurers not only delays claims settlement and causes endless uncertainty, it also costs a lot more than building reserves and using the Crown guarantee, both of which are the most efficient mechanisms possible as they are both 'at cost'.
But the greatest flaw of Nationals neoliberal EQC Act 1993 was the imposing of huge and ever growing risk onto general insurers who did not want that risk and are not structured in a way that is capable of or suited to carry such risk.
Not only was EQC decimated but AMI was destroyed.
We are now heavily dependent upon foreign re/insurers as a direct result of Nationals naive and misguided neoliberal 1993 reforms and Bill Englishes 2008 negligence.
