Industry leaders unite to form insurtech association
23 October 2017
An industry association dedicated to advancing insurtech start-ups and innovation will be launched in Sydney this week, with partners including QBE, Suncorp, IAG and AUB Group…
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Speed still the top cause of severe truck accidents
23 October 2017
Inappropriate speed for prevailing conditions remains the major cause of significant truck crashes, according to a biennial study…
Actuaries push for action on mental health
23 October 2017
The Actuaries Institute is urging the insurance industry to invest more time and effort in addressing mental health coverage concerns…
Cladding scare ‘costs strata schemes’
23 October 2017
Some strata schemes are struggling to find cover due to the issue of flammable building cladding, an industry body says…
Climate change study shows NZ glacial melt, sea level rise
23 October 2017
New Zealand’s glaciers are rapidly melting, its soil is drying and sea levels are rising due to climate change, a new government report confirms…
Weighty documents burden policyholders
23 October 2017
Comparethemarket.com.au has supported moves to simplify product disclosure statements after a survey by the company found many consumers were skimming through the documents…
FOS ranks insurers on dispute data
16 October 2017
The Financial Ombudsman Service has released data comparing insurers’ likelihood of consumer disputes…
Flood study shows $216 million mitigation payoff
16 October 2017
A Launceston levee project prevented $216 million of flood losses last year, reinforcing the insurance industry’s push for greater spending on mitigation projects…
Day’s departure marks another short ICA presidency
16 October 2017
The two-year presidency of the Insurance Council of Australia has become a revolving door with the departure of Anthony Day from Suncorp…
Social engineering on the rise, cyber experts warn
16 October 2017
Cyber criminals increasingly use “social engineering” – manipulating people into giving up confidential information – to target businesses, according to the Australian Cyber Security Centre…
NZ lawyers plan class action over shoddy buildings
16 October 2017
New Zealand councils that have approved or inspected leaky and failed buildings in the past 10 years face a possible class action…
US hurricanes ‘show flood pool deficiencies’
16 October 2017
The recent US hurricanes have demonstrated the failings of taxpayer-funded flood insurance pools in providing catastrophe cover, Insurance Council of Australia CEO Rob Whelan says…
Kaikoura home settlements pass halfway mark
16 October 2017
New Zealand’s Earthquake Commission and private insurers have completed 54% of residential building settlements from the Kaikoura earthquake, within eight months of the lodgement deadline…
In Insurance News (the magazine) this month
16 October 2017
As the pace of change in the Australian insurance industry accelerates, IAG is making some big, bold and swift steps to build a new kind of insurer. In this month’s edition of Insurance News (the magazine) we speak in depth to new Australian Division CEO Mark Milliner about what all this change will mean for staff, brokers and customers…
General insurance complaints soar 25%
09 October 2017
The number of general insurance disputes received by the Financial Ombudsman Service soared 25% last financial year to a new high…
BOM expects ‘typical’ cyclone season
09 October 2017
Climate modelling shows the coming tropical cyclone season will likely be “typical”, with 10-13 cyclones in Australian waters, according to the Bureau of Meteorology…
Energy price shock takes top spot in business fears poll
09 October 2017
Abrupt rises in energy prices have overtaken asset bubbles as the biggest risk to local businesses, according to the World Economic Forum Executive Opinion Survey, conducted in conjunction with Zurich and Marsh…
Survey shows coverage gap among cruise passengers
09 October 2017
More than 50% of cruise ship passengers and people who intend to take a cruise over the next two years wrongly believe the Government will pay for their care and evacuation if they fall ill, according to a new survey…
D&O premium pool ‘must treble’ to restore profitability
09 October 2017
Directors’ and officers’ insurance premiums need to rise strongly to restore profitability in areas exposed to securities class actions, according to a report by insurer XL Catlin and law firm Wotton + Kearney…
NZ climate experts examine insurers’ coastal retreat
09 October 2017
While rising sea levels, erosion and powerful storm surges have not driven property buyers and developers away from New Zealand’s coast, “insurance retreat” may, according to the team behind a new study.