NZ’s north suffers flooding, high winds
16 July 2018
Wild weather hit New Zealand’s North Island at the weekend, with flooding and road closures in Coromandel, Thames and Auckland…
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Liberty warns on reputation damage from food recalls
16 July 2018
A few days after supermarkets pulled sliced mushroom packets off their shelves following a plastic contamination scare, a product liability insurer has warned that food companies suffer more than monetary losses during product recalls…
EQC locks in $4 billion reinsurance program
16 July 2018
International reinsurers have agreed to provide about $NZ5 billion of cover for New Zealand’s Earthquake Commission this financial year…
Royal commission adds to D&O problems
09 July 2018
The Hayne royal commission into financial services misconduct is adding to insurer caution in the embattled directors’ and officers’ market…
Allianz gives insight into Mansfield Awards success
09 July 2018
Allianz Australia has revealed some of the secrets to its success after taking home the Gold Mansfield Award for excellence in claims-handling…
Reinsurance rate momentum stalls for loss-free renewals
09 July 2018
Reinsurers in the Australian market are mostly taking a client-by-client approach as global mid-year renewals saw plentiful market capital slowing the momentum in reinsurance price rises for property-catastrophe accounts…
Industry playing catch-up on driverless tech advances
09 July 2018
Insurers need to start figuring out how to provide cover for autonomous vehicles, which are rapidly growing closer to becoming mainstream, according to a new report…
Check policy before joining ride-sharing firms, NT drivers told
09 July 2018
Vehicle owners in the Northern Territory considering signing up as a ride-sharing driver should first check if their existing insurance policies cover such services, the Insurance Council of Australia says…
ICA code recommendations seek ‘best practice in conduct’
02 July 2018
The next version of the Insurance Council of Australia code of practice will make 30 recommendations to strengthen consumer protections and will for the first time seek Australian Securities and Investments Commission approval for the document…
S&P tips rate rises in some commercial lines
02 July 2018
Some commercial segments in Australia’s insurance market will probably see some “further rate hardening” as the broader property and casualty industry enjoys moderate growth prospects, S&P Global Ratings says…
Asbestos water pipes may pose health risk
02 July 2018
Thousands of kilometres of cement water pipes that contain asbestos need replacing across Australia, posing potential risks to residents and workers…
Next-gen drones offer lift for industry
02 July 2018
A new type of drone being tested in the US offers potential advantages for the insurance industry in Australia…
Claims stats show CTP at bottom of pile, but improving
02 July 2018
Compulsory third party motor vehicle produced the worst loss ratio among nine key business lines last year, new claims data shows…
Aon warns about PFAS chemicals
02 July 2018
Aon has warned property sellers, developers and construction companies to do due diligence on properties to ensure they haven’t been contaminated by per-and poly-fluoroalkyl substances, known as PFAS chemicals…
Victoria leads the way as vehicle thefts fall
02 July 2018
Fewer vehicles were stolen nationally in the year to March as Victoria, which at one time accounted for one-third of thefts, recorded a sharp decline…
Gallagher warns of real estate cyber threat
02 July 2018
Australia’s transition to an electronic system of exchanging property may leave the door open for cyber criminals, Gallagher says…
Focus on Suncorp and Youi as Hayne commission resumes
25 June 2018
Suncorp and Youi are on the back foot as the Hayne royal commission, which resumes today in Brisbane, examines their conduct around natural disaster insurance…
Code ‘should close gap’ around add-on products
25 June 2018
Consumer safeguards around add-on insurance should be strengthened by extending the industry’s code of practice to all sellers of such products, a governance committee report says…
Bureau flags rising El Nino threat
25 June 2018
The Bureau of Meteorology has activated its El Nino watch, with the likelihood of such a system developing increasing to 50% – double the normal chance…
April storms add to NZ weather losses
25 June 2018
New Zealand’s insurance losses have climbed to $NZ203.9 million this year following the addition of preliminary estimates for April storms and final figures for cyclones that lashed the country in February…