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The notes would be written off or converted to equity in part or in full should the Australian Prudential Regulation Authority (APRA) deem that QBE would become non-viable without conversion or a public-sector capital injection.
Our sponsorship is a clear signal to our producers about the commitment we have to the North American marketplace," said Russ Johnson, chief executive officer at QBE North America.
My five-month internship with QBE has unlocked career opportunities that I never even knew existed.
In support of its argument, QBE provided the application for insurance that had been submitted by Gray, which stated that the named insured "must be the registered owner" of the insured vehicle (the Cutlass).
Allstar Financial Group has added QBE North America as a carrier to its surety division, the company said.
The coverage will be provided through QBE North America's A.
Peter Cox, motor supply manager at QBE said: "QBE were looking for a partner who could deliver the right balance between consistently high standards of service and significant control of our total cost of claims.
QBE has been grappling with hefty claims as a range of adverse weather events weigh down its North American earnings.
The court held that QBE did not have standing--the right to sue--under the Montreal Convention, because it was not listed on the AWB.
QBE says no growth or slow growth are becoming accepted as the 'new normal,' with 48 per cent of businesses expecting no change in turnover in the next six months (up from 28 per cent in 2012) and 35 per cent expecting turnover to increase during 2013.
According to QBE Aviation senior vice president Michael Clark, IFBOA members who hold workers' compensation coverage through QBE are returned a portion of their premiums after their losses and administrative costs are paid.
About a year ago, Patzner said CUNA Mutual started looking at "others who could do it better" in Australia and began discussions with QBE last summer.
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