14 DEAL OR NO DEAL
QBE plays a deep game in its pursuit of IAG

15 THE MIDAS TOUCH
Frank O'Halloran has carved out a formidable reputation as a skilled acquisitor

18 WIND FROM THE WEST
A cyclone reaches across the country to batter three states and raise thousands of property damage claims

22 WEATHER THE COST
Natural hazards are likely to push up premiums in NZ

24 CASTING A LONG SHADOW
The subprime credit crunch is threatening to push D&O rates higher as capacity tightens

32 PREMIUM CUT
Legislation and consolidation emerge as big issues for premium funding businesses