Suncorp calls for open borders, resets business 22 October 2020 Suncorp has pressed the case for the reopening of borders to help the economy recover from the impact of the COVID-19 outbreak and says its own program of work to reset its business post-pandemic is well underway... Read More...
Look beyond reinsurance to mitigate weather risk, insurers told 22 October 2020 S&P Global Ratings has urged Australian insurers to consider other measures such as government-backed schemes to cope with what is expected to be a worsening claims burden from weather-related disasters as climate change intensifies... Read More...
Axa XL pulls out of London management liability market 22 October 2020 Axa XL has announced it will no longer write management liability or financial institutions business in the London market due to persistent profitability concerns, but the decision does not affect Australia... Read More...
Holiday rental landlord loses dispute over COVID losses 22 October 2020 A man has lost a dispute with Suncorp after he lodged a claim for lost rental income from cancelled holiday bookings due to COVID-19 pandemic restrictions... Read More...
Most broker clients don’t pay more, says Deloitte 19 October 2020 A Deloitte Access Economics report on broker value has found that intermediaries provide huge value to clients, insurers and the economy – and clients don’t necessarily pay more for it... Read More...
Travel insurance specialist ‘hibernates’ as volumes plummet 19 October 2020 TravelCard today announced “the difficult decision” to put the business into hibernation and pause operations... Read More...
Summerhayes sets out APRA’s case for mitigation 19 October 2020 Insurance affordability and availability risks are set to rise with more intense and frequent natural disasters, strengthening the economic case for greater investment in mitigation, Australian Prudential Regulation Authority Executive Board Member Geoff Summerhayes says... Read More...
No near-term relief for Life as losses top $1.3 billion 19 October 2020 Further losses are likely in store for the life industry after it made an aggregate loss of $1.3 billion in the last financial year, compared with an $800 million profit in the previous year... Read More...
Insurance professionals say mental health dives in 2020 19 October 2020 The number of insurance professionals reporting their mental health & wellbeing as “positive” or “neutral” has slumped by 19% since COVID-19 struck, compared with a fall of just 5% in banking, according to a survey from recruiter Hays... Read More...
Global premium hits record $7.9 trillion 19 October 2020 The value of global insurance premium stood at an all-time high of $US5.6 trillion at the end of last year after annual growth of 3.2%, Aon’s latest Insurance Risk Study says... Read More...
Here to help: study reveals the scale of broker value 19 October 2020 With a review of broker commissions looming, the National Insurance Brokers Association wanted hard evidence of the service that intermediaries provide... Read More...