Land use forum sparks call for action
19 August 2024
The Insurance Council and the Planning Institute of Australia have called for a ban on further property development in highly flood-prone locations...
Local
In Insurance News magazine this month
19 August 2024
The US is battling insurance challenges on many fronts, and Australia is watching with interest to see what it can learn...
Industry steps up investment risk as recession fears ease
19 August 2024
Insurers are showing a “noticeable increase” in investment risk tolerance and are looking at more portfolio diversification, a report says...
ICA sets standard for expert reports after ‘loud and clear’ feedback
19 August 2024
The Insurance Council has created an Expert Report Best Practice Standard, aiming to provide more clarity for insurers and their customers as criticism continues to flow following the 2022 flood disasters...
Not all levees are created equal, Senate inquiry told
12 August 2024
Flood defences such as levees strengthen disaster resilience but can only offer so much protection, a Senate inquiry into climate risk’s impact on insurance premiums has heard...
Complaints to NZ dispute scheme hit record number
12 August 2024
New Zealand’s Insurance & Financial Services Ombudsman Scheme received a record number of almost 5000 enquiries in the past year, a 21% increase...
Market stabilising but trouble spots remain: Aon
12 August 2024
Australian market conditions have continued to stabilise but some pockets are still challenged, particularly catastrophe-prone property and casualty risks with heavy US exposures, Aon says in a global second-quarter report...
ICA connects with NSW firefighters on safety risks
12 August 2024
The Insurance Council of Australia and Fire and Rescue NSW have pledged to work together on improving community safety...
Insurer support for family violence victims ‘remains a lottery’
05 August 2024
General insurance companies are too slow and patchy in making improvements to their family violence approaches, the Financial Rights Legal Centre says...
PI claims stable but written premium drops
05 August 2024
Professional indemnity claims payments for non-facility business reached $1.111 billion in the 2022 underwriting year, little changed from $1.109 billion a year earlier, according to the Australian Prudential Regulation Authority...
Flood inquiry hearings end after six months
05 August 2024
The federal government’s inquiry into insurers’ handling of the 2022 floods has held its final hearing and is due to report by October 18...
Double disaster on track for $NZ3.8 billion bill
05 August 2024
The Insurance Council of New Zealand says nearly 96% of private claims from the Auckland Anniversary Weekend floods and Cyclone Gabrielle have been settled...
CSIRO wheat yield index aims to power parametric covers
05 August 2024
The national science organisation will design a new yield-based insurance index for wheat farmers...
Car cover disputes race to top spot as industry sets new record
05 August 2024
Complaints to the dispute resolution authority about comprehensive motor vehicle insurance rose 21% in the year to June...
Commercial premiums drop 5%: Marsh
29 July 2024
Marsh’s premium index shows commercial rates in the Australia-dominated Pacific region dropped 5% in the second quarter of this year...
Flood inquiry ready for final hearing
29 July 2024
The federal flood inquiry will hold its final public hearing tomorrow, with several expert agencies to give evidence via video link...
Delegation visits tech mecca to learn about AI
29 July 2024
Australian insurers have visited Silicon Valley to gain insights about artificial intelligence on the latest leg of their US working trip...
Property premium ‘poised for significant growth’
29 July 2024
Australia and the wider Asia-Pacific region are expected to generate about $US152.2 billion ($229 billion) of property premium in 2028, analytics group GlobalData says...
Law firm to rewrite smash repair code
29 July 2024
MST Lawyers has been appointed to write a new draft of the Motor Vehicle Insurance and Repair Industry Code of Conduct, and a consultation on the document is expected in coming months...
Demand for NZ dispute service sets record
29 July 2024
New Zealand’s Financial Ombudsman Service says in the past year it has received the highest number of complaints and disputes since the scheme started in 2011...