Saturday July 4, 2020

An Australian lesson in insurance company failure

If Sean Quinn’s troubled insurance group was under-pricing its premiums, have its competitors been doing the same?

29th May, 2010

In the autumn of 2008, a London-based insurance underwriter told me that Quinn Insurance would face difficulties be cause it was under-pricing the risks it was writing in the British and Irish insurance markets. In plain English, he reckoned that Quinn Insurance wasn’t charging consumers and businesses enough to meet future claims.

The underwriter, who did not wish to be identified, advised me to go and buy a book about the collapse of Australian...

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