Originally posted by john999
The Failure Analysis Associates predictions were prepared for the insurance industry - we now know that these figures are unreliable, as the insurance industry has been losing money for years and many (including the largest, Lloyd's of London) have been bankrupted.
This is why there is now a 'national crisis' in insurance in Australia, with many sporting clubs and businesses either being refused insurance cover or being hit with increases in premiums of 200-700 %.
Actually, the reason for the increase in insurance premiums in this country is the fact that anybody who so much as sneezes in this country now wants to sue somebody over it. It's getting ridiculous. Australia now has a higher number of lawsuits per 1000 people than the US. Something I never thought I'd see happen.