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Budget's disaster resilience spend falls short of insurer hopes

Mon, 20 May 2024 04:30:30 GMT

The Insurance Council of Australia says more resilience and mitigation spending is required after last week’s federal budget allocated $138.7 million over four years for disaster support...

Weather watchers see early signs of La Nina's return

Mon, 20 May 2024 04:30:18 GMT

Shifting sea surface temperatures in the central Pacific have put Australia back on "La Nina watch", raising the prospect of a return to flood conditions.

Travellers warned over New Caledonia unrest

Mon, 20 May 2024 04:28:50 GMT

New Zealand insurance ombudsman Karen Stevens has warned travellers to New Caledonia to be aware of their coverage after civil unrest hit the island territory...

More government funds pledged after WA tornado

Mon, 20 May 2024 04:28:32 GMT

Federal and state government disaster assistance has been directed to a WA town after a severe storm and tornado damaged hundreds of homes, community facilities and public assets...

April storm payouts mount amid 'staggering' run of losses

Mon, 20 May 2024 04:28:14 GMT

Three extreme weather events since late December have led to a "staggering" $1.6 billion of insured damage across NSW, Queensland and Victoria, according to the Insurance Council of Australia...

Agencies, brokers in ‘strong position’ amid growing complexity

Mon, 13 May 2024 04:10:31 GMT

Brokers and underwriting agencies have momentum on their side as demand for specialist risk services grow, according to Macquarie Bank...

Disaster resilience in spotlight ahead of federal budget

Mon, 13 May 2024 04:10:18 GMT

Insurers will be seeking commitments to boost disaster resilience and improve cover affordability in tomorrow night’s federal budget...

Bondi Junction workers’ comp claims top 300

Mon, 13 May 2024 04:08:20 GMT

More workers’ compensation claims have been lodged with NSW state insurer icare nearly a month after the Bondi Junction Westfield mall stabbings...

Call for team approach as more risk falls on companies, individuals

Mon, 13 May 2024 04:07:51 GMT

Accessible, affordable insurance is “not something any business or individual can take for granted”, Zurich’s Geoff Summerhayes has warned...

Climate risks 'front of mind' for NZ home buyers

Mon, 13 May 2024 04:07:25 GMT

Natural hazard risk is the second most important consideration for New Zealanders when looking to buy or rent a home, new research from IAG has revealed...

Code committee targets claims handling laggards

Mon, 06 May 2024 04:27:52 GMT

The General Insurance Code Governance Committee says failure to update policyholders on the progress of claims was the top reported breach last financial year and it is engaging with subscribers that have fallen short of requirements...

Mitigation recognition clarity on table in code review

Mon, 06 May 2024 04:27:27 GMT

The independent panel reviewing the general insurance code of practice is considering whether more clarity on mitigation measures and impacts on premiums is needed amid affordability concerns...

Failure of imagination is key business risk

Mon, 06 May 2024 04:27:13 GMT

Former QBE Deputy Chair John M Green says insurance industry professionals should read and watch drama to ignite their imaginations and better foresee risk...

Millions of cash-strapped drivers dodge car maintenance

Mon, 06 May 2024 04:26:45 GMT

Australia’s roads are crowded with cars that would struggle to pass a roadworthiness inspection as drivers delay maintenance, comparison site Finder says...

Commercial rate cycle on buyers’ side after first decline since 2016

Mon, 29 Apr 2024 04:00:25 GMT

Broker Marsh expects market conditions in Australia to favour commercial insurance buyers after rates fell for the first time since 2016...

Dispute referee to consult on disclosure guide

Mon, 29 Apr 2024 03:33:14 GMT

The Australian Financial Complaints Authority aims to launch a new approaches document this year to give greater clarity around disclosure disputes...

Smash repair code committee eyes incorporation

Mon, 29 Apr 2024 03:32:53 GMT

The Motor Vehicle Insurance and Repair Industry Code Administration Committee is considering becoming an incorporated entity after a recommendation it should adopt an association, company or other corporate structure...

Consumer group calls for increased cyclone pool cross-subsidisation

Mon, 29 Apr 2024 03:32:29 GMT

The Australian Consumers Insurance Lobby says changes to cyclone pool pricing modelling should be made before a scheduled review, to deliver improved savings to regions paying the highest premiums...

‘Cold, angry, abandoned’: Victorian flood probe details victims' anger

Mon, 29 Apr 2024 03:31:25 GMT

An interim report from the Victorian Government’s inquiry into the October 2022 floods says insurance claim handling delays and inadequate coverage prolong hardship and hinder recovery after natural disasters...

Study highlights danger of distracted drivers

Mon, 29 Apr 2024 03:20:49 GMT

IAG has warned drivers after new research found more than half of New Zealanders admitted to being distracted while at the wheel...