Cat price rises inadequate, says Canopius

Canopius executive chairman Michael Watson has said that tenfold increases in premiums in Thailand have been exceptions, and complained that insurers have not done enough to raise rates across the board.

"The global response to catastrophes was inadequate in terms of pricing - it was not as strong as our events of 2011 tell us it needs to be," he told Post.

Watson gave New Zealand rates as an example