01 Oct 04 CYCLONE WARNING!
The recent spate of hurricanes in the Carribean and south west states of the US are a timely reminder of the increasing severity in the world's weather patterns.
It wouldn't surprise us to see similar activity in other parts of the world in the near future - it could even affect NZ more regularly in years to come.
As you will have heard, the recent storms in the US have caused BILLIONS of dollars worth of damage, and you don't need to think too hard to realise where most of this money will come from in order to rebuild people's property - and their lives. Yes, the good old insurance industry. The problem for us even in NZ is that these payouts will push up insurance premium rates worldwide, and they will filter through to our local market. Combined with our own recent flooding problems, it means increased pressure on insurance premiums, especially in the domestic insurance market.
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