Analysis

Broker Love: IAG opens up on next stage of turnaround plan

04 December 2023

A few years back, IAG’s Intermediated Insurance Australia division was struggling by any measure, a self-proclaimed underperformer that recorded a more than $100 million loss in FY22...

Tectonic shift: risks go both ways in energy transition

27 November 2023

Societies and economies across the world have begun, to varying degrees, and with varying success, the process of energy transition...

Greatest gift: ESL delight, but history dictates caution

20 November 2023

The NSW Government’s surprise announcement that it intends to ditch the inequitable Emergency Services Levy was an early Christmas present for an insurance industry battling increasing affordability woes...

Never-ending story: broker code debate maintains momentum

13 November 2023

The November 1 changes on remuneration disclosure to the National Insurance Brokers Association code of practice were intended to draw a line under a debate that’s raged for more than a year...

Will insurers opt out of optional flood cover?

06 November 2023

Australia’s $6 billion flood catastrophe last year devastated many communities, and it may yet have a significant impact on how home insurance policies operate in future...

Battle to stop floodplain building finally gaining traction

30 October 2023

A battle to stop building housing in the highest risk locations on Australia’s floodplains appears to be finally gaining traction with a NSW Government decision to prevent some proposed development in the Hawkesbury-Nepean Valley west of Sydney...

From the frontline: good and bad of an insurance career

23 October 2023

The 2023 Insurance News Wellbeing Survey received thousands of frank and insightful opinions from brokers, underwriters, claims experts and other professionals who make up the sector...

Floods tipping point galvanises government, industry

16 October 2023

Last week’s Insurance Council of Australia Annual Conference was held a year after flood waters inundated towns in northern Victoria in a continuation of natural disasters triggered as torrential rainfall fell across eastern states during a third consecutive La Nina...

Is it time to reconsider comparison websites for home and motor?

09 October 2023

It’s a familiar scenario for people buying personal insurance online – your home or motor renewal comes through, and the premium’s up 10% or even 20%...

Jones sings industry tune, but consumer groups not in harmony

02 October 2023

There’s nothing like an overseas trip to bring people closer together, as apparently evidenced by the delegation of insurance leaders and Assistant Treasurer Stephen Jones, which has just returned from Europe...

Householders a trouble area as investments provide boost

25 September 2023

The annual Radar report shows householders was the only class to make a loss last financial year, a reversal in investment results drove overall profits higher and affordability pressures are a key issue for the industry...

Reinsurance price rises likely remain on the cards after reset

18 September 2023

Frustrating and gruelling negotiations leading into last January’s reinsurance renewals remain fresh in the memory as the industry prepares for upcoming discussions, with early expectations suggesting further price increases but an overall smoother process...

Higher returns, higher risks: industry adjusts to new interest rate era

11 September 2023

The end of the era of “financial repression” will transform the general insurance industry as it achieves higher returns from investments, but further market hardening is still expected, a global report from Swiss Re warns...

You have been warned: bushfire threat builds as forecast worsens

04 September 2023

Australian home and business owners – and their brokers – should be well aware of the potential bushfire threat this spring and summer, but a new report from an insurer shows misunderstandings about the risks are still rife...

10 reasons why our industry is floody effective

28 August 2023

In an attempt to align the corporate regulator’s recent report on claims handling with insurer profits, Melbourne’s Herald Sun recently ran with the headline “Our insurers are floody useless”...

Hidden danger: are flexihose claim denials wearing thin?

21 August 2023

Insurers are increasingly under fire for relying too heavily on wear and tear exclusions to deny claims – and one example is a growing concern for brokers and their clients...

Home truths: heat rises on affordability problems

14 August 2023

Actuaries Institute and consumer group research reports have highlighted rising home insurance affordability problems in parts of Australia and set out proposals for action, as consensus rises on some issues while immediate solutions remain a challenge...