Insurers wary of high-risk companies amid rising catastrophic accidents

Insurance broker Crombie Lockwood (NZ) Ltd. said that New Zealand insurers are monitoring high-risk sectors closely as their risk tolerance wanes amid increasing catastrophic incidents in high-hazard sectors, Asia Insurance Review reported. Insurers are closely monitoring properties with highly flammable exteriors as well as industries with a high-fire loading, such as woodworkers, waste management, plastics manufacturing and industries using flammable materials or high-heat processes.