World Updates; APRA to collect claims data.(International)(Australian Prudential Regulation Authority)(IUA sees growth in London market)(Investments, bank unit cut Allianz profits)(AXA profits drop on investment losses)

Business Insurance, August, 2003

The Australian Prudential Regulation Authority is consulting with the country's insurers and other relevant bodies on the collection of policy and claims data for public liability and professional indemnity insurance. The Australian government, as well as state and territory treasurers, had agreed that appropriate premiums for these classes of insurance could not be determined due to a lack of comprehensive data on claims costs.

A lack of data was also identified as inhibiting the development of insurance products for these sectors. Data collection is expected to begin in the second quarter of 2004. IUA sees growth in London market The London company market has seen considerable premium growth over the past few years, according to research by the...

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