Debbie loss estimate hits $1.66 billion
02 October 2017
Swiss catastrophe data company Perils has revised its loss estimate for Tropical Cyclone Debbie up to $1.66 billion from its June estimate of $1.41 billion…
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Inquiry will probe brokers’ standards
02 October 2017
The Insurance Brokers Code Compliance Committee will conduct an “own motion” inquiry into brokers’ understanding of competency and professionalism, and how these standards are achieved…
Financial services ‘least trusted industry’
02 October 2017
The financial services sector, including insurance, is the least trustworthy industry, according to a new global survey into consumer attitudes…
‘Challenging’ bushfire season begins in ACT
02 October 2017
The ACT bushfire season started yesterday, and experts warn a dry winter and an increase in forest fuel will result in increased risk…
Intermediaries want more insurer support
25 September 2017
Brokers in Australia believe they should get better support from insurers to counter their more nimble and well-funded digital competitors, according to an EY survey…
Insurtech opportunities outweigh threats: Aon
25 September 2017
The insurance industry can take advantage of rising insurtech investment to become more efficient and expand into emerging markets, Aon Global CEO of Analytics Paul Mang says…
Skills gap causes risk management headache
25 September 2017
A shortage of skills in emerging technologies is stopping insurers and other financial services providers from effectively managing risk, according to Accenture…
Solicitor, health workers charged in CTP fraud crackdown
25 September 2017
A solicitor and two allied health professionals were last week charged over alleged roles in a group co-ordinating fraudulent compulsory third party (CTP) insurance claims in Sydney…
Record warm winter blamed on climate change
25 September 2017
Australia’s record warm winter was made 60 times more likely by climate change, according to a report from the Climate Council…
EQC teams up to clear flood debris
25 September 2017
The Earthquake Commission has worked with councils and contractors to clear silt and debris from 251 flood-damaged properties in the town of Edgecumbe, acting on a request from the Government…
Insurtechs force industry to keep up
18 September 2017
Australia’s major insurers are building their digital strengths in response to the insurtech challenge, according to IT consultant Capgemini…
Rate rises to lift NZ insurers, S&P says
18 September 2017
New Zealand property and casualty insurers will receive an earnings boost from rate rises in personal and commercial lines, according to S&P Global Ratings…
Annual vehicle theft figures rise
18 September 2017
The number of vehicle thefts nationwide grew 4% to 56,184 last financial year, according to the National Motor Vehicle Theft Reduction Council…
Flammable cladding ‘faces coverage rejection’
18 September 2017
Buildings featuring flammable cladding that does not adhere to Australian standards may find it hard to access full insurance cover, according to Strata Community Insurance…
Road crashes take $30 billion toll on economy
18 September 2017
Deaths, injuries and other consequences of road accidents cost the economy almost $30 billion a year, according to the Australian Automobile Association…
Quake settlements tracking ahead of expectations
18 September 2017
Private insurers have settled or partially settled 59% of residential and commercial claims from the Kaikoura earthquake, the Insurance Council of New Zealand says…
Little lies cause big trouble, NZ Ombudsman warns
18 September 2017
New Zealand Insurance & Financial Services Ombudsman Karen Stevens has warned consumers against believing a “bit of a lie” won’t hurt when it comes to insurance…
First-half intermediary premium hits $9.4 billion
11 September 2017
Insurance intermediaries invoiced $9.4 billion in premium in the six months to June 30, according to Australian Prudential Regulation Authority statistics…
Rate gains, reinsurance underpin robust earnings outlook: S&P
11 September 2017
General insurers will generate strong earnings for the next few years, supported by premium increases and robust reinsurance protection, according to S&P Global Ratings…
Couple denies scamming $17 million from Dual
11 September 2017
A married couple will stand trial next week accused of defrauding Dual Australia of $17 million between 2011 and 2013…