Daily
'Alarming' surge in rainfall burst intensity raising Sydney flood risks
11 November 2022
Rainfall intensity during short rapid bursts has increased 40% in the past two decades in the Sydney region, raising risks from flash flooding as outdated infrastructure is overwhelmed, climate researchers say...
Council mitigation cash aims to lower North Queensland premiums
11 November 2022
The Queensland government is spending $10 million on council risk mitigation projects in an effort to lower insurance costs in the north of the cyclone and flood-prone state...
UAC looks to fill newly created CEO role
11 November 2022
The Underwriting Agencies Council has started screening potential candidates to take up the newly created CEO role as the peak body looks to build on the growth of the agency sector...
ICA to hold information session in flood-hit Rochester
11 November 2022
The Insurance Council of Australia will host a “town hall” information evening for insurance customers affected by recent flooding in Rochester and nearby Victorian communities...
'Century of bad planning' requires mitigation catch-up
10 November 2022
Multi-year investment programs that may ultimately cost in the billions of dollars will be required by governments to remedy issues left by a century of poor planning, Suncorp CEO Steve Johnston says...
ICA to host further meetings for flood-affected customers
10 November 2022
The Insurance Council of Australia will hold in-person forums for flood-affected communities in Brisbane and parts of northern NSW to allow customers to meet with insurers...
Homeowners compensated for rental loss at 'grossly contaminated' property
10 November 2022
Landlords who sought compensation for a loss of rent for three properties after they were deemed unliveable have won their claims dispute against their insurer...
NSW to create disaster reconstruction authority
10 November 2022
New legislation has been introduced to parliament today for the establishment of a NSW Reconstruction Authority dedicated to natural disaster preparedness, recovery and reconstruction...
ASIC letter spells out expectations ahead of high-risk summer
09 November 2022
The Australian Securities and Investments Commission has written to insurers warning they should be prepared, proactive, transparent, consumer-centric and responsive in dealing with claims as they face a summer that’s likely to continue the recent heightened pattern of severe weather events...
Aon sets up Climate Advisory Council
09 November 2022
Aon announced today it has established an advisory council in Australia to address climate risks as well as find solutions and mitigation initiatives...
INsight podcast: commissions, climate change and coal
09 November 2022
Recommendations to allow broker commissions to continue are the dominant discussion point on the latest edition of the Insurance News podcast...
Parliamentary committee to inquire into cyclone pool
08 November 2022
The Federal Parliamentary Joint Select Committee on Northern Australia will this month hold a one-day hearing into the cyclone reinsurance pool to consider changes needed for the scheme to operate more quickly and effectively in reducing premiums...
Mind the protection gap: 90% of cyber losses uninsured, Swiss Re says
08 November 2022
The protection gap for cyber crime risk is significant, with premiums amounting to just a fraction of total losses from cyberattacks and most firms either uninsured or significantly underinsured, a new Swiss Re Institute report says...
'Eye on the economy': cost pressures supplant cyber as top business risk
08 November 2022
Rising living costs have overtaken cyber security failures as the biggest worry for Australian business leaders, a global survey of executives carried out by Marsh McLennan and Zurich has found...
Insurer entitled to deny renewal over 'extensive claims history'
08 November 2022
A home contents insurance policyholder whose renewal was declined due to the number of claims she made will not be compensated after a dispute ruling determined that the insurer was entitled to follow its underwriting guidelines...
'Clock is ticking': caravan parks uneasy as 'unaffordable' premiums continue to rise
04 November 2022
Representatives of the caravan park industry say more work is needed to tackle insurance accessability as businesses struggle to afford soaring premiums...
Tough reinsurance renewals loom as rates, retentions in focus
04 November 2022
Reinsurance prices are set to continue to rise and retention levels will also increase in upcoming renewals following more challenging market conditions in the wake of Hurricane Ian and Australian flooding, Swiss Re says...
PSC seals Ensurance UK deal, steps up in HK and Australia
04 November 2022
PSC Insurance Group says it has a binding agreement to acquire the UK business of underwriting agency Ensurance after completing due diligence, after the planned investment was announced in July...
Policy clarity vital as disaster complaints rise: AFCA
04 November 2022
Policy clarity around the risks covered is critical amid a rise in complaints this year related to natural disaster claims, Australian Financial Complaints Authority Lead Ombudsman Insurance Emma Curtis says...
Trigger event shifts dial on natural disaster resilience action
03 November 2022
Australia has experienced a natural catastrophe “trigger event” that is transforming the approach to disaster resilience and recovery, the new head of the National Emergency Management Agency says...