AA Insurance reintroduces full home replacement cover for fire, flood and storm damage

Mon, 12 Sep 2016

By Paul McBeth Sept. 12 (BusinessDesk) - AA Insurance, which is owned Australia's Suncorp Group and the New Zealand Automobile Association, has reintroduced full replacement home cover events such as fires, floods and storms, but shied away from including natural disasters which would have been too expensive. Insurers switched full replacement cover for the international norm of sum insured after the spate of Canterbury earthquakes that devastated the country's second-biggest city. Global reinsurers underestimated the cost of those quake...

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