SMEs in dark on business interruption, QBE says
16 April 2018
Business interruption cover has failed to gain traction among small companies, with just 17% holding such policies, according to a QBE-commissioned study…
Local
NZ SME report spells trouble for brokers
16 April 2018
New Zealand SMEs are relying less on brokers for their insurance needs, mirroring trends in Australia and other developed markets, according to Vero…
Weather events cost NZ insurers $89 million so far
16 April 2018
Major storms in the first quarter of the 2018 have triggered claim payouts totalling $NZ93.5 million, highlighting the industry’s key role helping communities recover…
Swiss modeller updates industry exposure database
16 April 2018
Switzerland-based Perils has released property sums insured for windstorm, bushfire, hail, flood and earthquake risks in Australia…
Rate gains help insurers through ‘choppy waters’
09 April 2018
Australian property and casualty insurers are in line for “sound” underwriting profits this year after navigating a spike in claims last year, according to S&P Global Ratings…
Tailored cover a winner for insurers, AIMS survey finds
09 April 2018
Insurers offering tailored pricing and coverage are winning greater support, according to a report based on a biannual survey of Austbrokers & IBNA Member Services brokers…
Debbie loss passes $1.7 billion in pioneering measurement
09 April 2018
Swiss catastrophe data company Perils has upgraded its final loss estimate for Cyclone Debbie to $1.74 billion…
Dual fraud trial delayed until next year
09 April 2018
A married couple accused of defrauding Dual Australia of $17 million between 2011 and 2013 will stand trial next year…
Victorians sue power company over Garvoc fire
09 April 2018
Maddens Lawyers has filed a class action lawsuit against utility provider Powercor on behalf of Victorians affected by last month’s Garvoc fire in the southwest of the state…
Broker usage stabilises, Vero study finds
26 March 2018
The number of SMEs using brokers for their insurance arrangements has stabilised after falling 7% over the past five years, according to Vero…
Bushfire, cyclone losses pass $60 million
26 March 2018
Insurance losses from bushfires and an NT cyclone this month have topped $60 million and are expected to climb, the Insurance Council of Australia says…
Slater & Gordon weighs Tathra fires class action
26 March 2018
Law firm Slater & Gordon is investigating a potential class action on behalf of residents and property owners affected by the Tathra bushfires, after a preliminary investigation found electrical infrastructure was a likely cause…
Climate change to ‘double NSW bushfire costs’
26 March 2018
The cost of bushfires in NSW is expected to double by mid-century as climate change exacerbates the fire season, according to the Climate Council…
Dozens of data breaches reported under new regime
26 March 2018
More than 30 data breaches have been reported to the Office of the Australian Information Commissioner in the three weeks since notification legislation was enacted…
NZ businesses ill prepared for cyber attacks: Marsh
26 March 2018
New Zealand businesses are not ready to manage cyber incidents, despite ranking breaches among the top five risks they face, according to a Marsh survey…
Fehi bill closes on $36 million
26 March 2018
Cyclone Fehi is expected to cost insurers more than $NZ$39 million, according to the Insurance Council of New Zealand…
EQC close to finalising Kaikoura claims
26 March 2018
New Zealand’s Earthquake Commission has completed 93% of residential building, 97% of contents and 98.5% of land settlements from the 2016 Kaikoura catastrophe…
Add-ons dominate complaints, consumer advocate says
19 March 2018
Add-on insurance is becoming a significant issue being investigated by the royal commission on financial services misconduct…
ICA declares fires a catastrophe as cyclone hits NT
19 March 2018
The Insurance Council of Australia has declared a catastrophe in southern NSW and southwest Victoria after weekend fires devastated property, while claims are being lodged after Cyclone Marcus hit Darwin on Saturday…
Bushfire research reveals underinsurance on farms
19 March 2018
Many NSW farmers are badly underinsured, according to a Bushfire and Natural Hazards Co-operative Research Centre study…