Tasman Tempest costs jump to $58 million
17 July 2017
Insured costs from the so-called Tasman Tempest, which hit New Zealand in March, have risen to $NZ61.7 million, according to final data…
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Stone & Chalk joins Sydney start-up centre
17 July 2017
Fintech hub and Australian insurtech champion Stone & Chalk is relocating to the Wynyard Green building as part of the NSW Government’s $35 million Sydney Start-up Hub…
Regulatory pressures drive insurers’ IT planning
17 July 2017
Meeting regulatory requirements is the biggest influence on IT planning among general insurers in the Asia-Pacific region, according to research and advisory group Celent…
Skills shortage to blame for car repair delays: ICNZ
17 July 2017
New Zealand insurers have rejected claims that industry red tape is delaying car crash repairs, pointing instead to a shortage of skilled panelbeaters…
Labor hits out over northern Australia response
10 July 2017
Northern Australia is at the centre of an escalating political row as the Turnbull Government and the Labor Opposition trade barbs over the long-standing problem of rising insurance premiums…
Personal lines drive industry profit gains
10 July 2017
Australia’s general insurers made an after-tax net profit of $2.9 billion last year, up 27% from 2015 on lower property claims and large reserve releases in long-tail business, according to Swiss Re’s latest Sigma study…
Hazards research group puts focus on mitigation
10 July 2017
Mitigation is a priority for natural hazards research over the next decade, according to a report based on consultation with experts…
Crop expert floats indexed cover
10 July 2017
Agronomic data collected automatically on-farm could be added to meteorological modelling to create insurance indices for agriculture, according to a visiting expert…
Dive In survey to set diversity benchmarks
10 July 2017
The first survey of diversity in the Australian insurance industry launches today as part of the Dive In festival.
National car theft on rise as Victorian figures soar
10 July 2017
Victoria, Queensland and SA were largely responsible for a 9% national rise in car theft numbers last year, according to the latest Australian Bureau of Statistics figures…
ICA website aids disaster recovery
10 July 2017
The Insurance Council of Australia has established a website dedicated to helping post-disaster recovery efforts…
Industry to maintain strong performance: S&P
03 July 2017
Australia’s property and casualty sector will continue to perform strongly in the medium term, according to S&P Global Ratings…
Renewals: hardening, but not yet a hard market
03 July 2017
The final few weeks of the June 30 renewals season have revealed the long soft market may be coming to an end, according to brokers…
Reinsurance market softening continues: Willis Re
03 July 2017
Australian reinsurance rates continued to soften at the mid-year renewals amid “plentiful” capacity, reflecting a global trend, according to Willis Re…
Debbie insured losses near $1 billion
03 July 2017
Losses from Cyclone Debbie are set to exceed $1 billion based on claims received by insurers, while a natural catastrophe data company has raised its estimate for the total bill…
Risk Frontiers goes it alone
03 July 2017
Natural hazards research centre Risk Frontiers has split from Macquarie University after a 23-year partnership…
PI and PL claims payouts decline
03 July 2017
Insurers paid almost $1.66 billion in professional indemnity and public and product liability claims last year, down 4.8% from 2015, according to the Australian Prudential Regulation Authority’s National Claims and Policies Database…
Latest cyber attack a warning to business: JLT
03 July 2017
The Petya ransomware attack, which spread like wildfire through global networks last week, should provide a wake-up call to businesses, according to JLT…
Insurers urged to invest in ‘shared value’
03 July 2017
A new report encourages Australian insurers to adopt the shared-value concept and drive improvements to communities…
NZ insurers support ice contamination standard
03 July 2017
The Insurance Council of New Zealand has backed new test standards for methamphetamine contamination in residential properties.