Insurers will be unable to insure everyone, Tower chair says
Listed insurer talks up resilience as catastrophic weather dampens profit.
A vineyard in Esk Valley part of Hawke’s Bay lies buried under tons of mud after Cyclone Gabrielle.
The chair of listed insurer Tower says the catastrophic weather events so far this year are more likely symptomatic of a new normal and insurers will, sooner or later, no longer be able to provide insurance to everyone.
Tower today reported an underlying loss including large events of $3.3 million
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