Market braced for major IAG loss deterioration

Reinsurers are set for a fresh hit from the New Zealand earthquakes
of 2010/11 as Australasian carrier IAG has informally warned
carriers that its loss notifications will rise significantly,
The Insurance Insider has learned.
Reinsurers have not yet been provided with a hard loss figure
and IAG is said to still be working to determine the full extent of
the creep.
However, sources said that the deterioration could be up to 20
percent for the September 2010 Darfield quake and...