Organised crime gang targets CTP scheme
10 April 2017
Police believe a sophisticated crime syndicate is defrauding NSW’s compulsory third party scheme, costing it millions of dollars a year…
Local
Calliden forced to pay brothel fire claim
10 April 2017
Two Canberra brothel owners have won an appeal against Calliden after the insurer refused to pay a $500,000 fire damage claim because they did not disclose their links to an outlaw motorcycle gang…
Industry slams 40% NZ fire levy rise
10 April 2017
The New Zealand insurance industry has criticised the rising fire service levy, saying taxes on cover encourage underinsurance and leave consumers exposed…
Mining market softness to persist: Marsh
10 April 2017
The Australian mining insurance market will remain soft this year, but reasons for large rate reductions will be scarcer, Marsh says in a global report on the sector…
Australians ready for driverless cars, study shows
10 April 2017
Many Australians are ready for automated vehicles, according to a survey by Roy Morgan Research…
In Insurance News (the magazine) this month
10 April 2017
Create a clear direction, have some fun in a high-energy environment, set bold challenges… just a few points in the strategy set by QBE’s Group CFO Pat Regan when he took over the Australian and New Zealand Operations division…
Brokers’ share of SME business declining: Vero survey
03 April 2017
Less than one-third of SMEs bought insurance through a broker last year as digital upheaval affected demand for professional services, according to a Vero survey…
Debbie claims rising as ICA extends cat zone
03 April 2017
Insured losses from Cyclone Debbie have reached $224 million from 19,600 claims, according to the Insurance Council of Australia…
Reinsurance mitigates ratings risks from cyclone
03 April 2017
Robust reinsurance will protect Australian insurers from ratings impacts following Cyclone Debbie last week, according to S&P Global…
Property rate rises tipped to continue
03 April 2017
Premium rate increases in Australian property lines are expected to continue this year, according to the latest market review from broker Arthur J Gallagher…
Taylor Fry flags rising premiums and profits
03 April 2017
Modest premium increases in key personal lines and a long-awaited turn to growth in commercial classes should propel the insurance industry into a year of improved profitability, according to consultant Taylor Fry…
Disputes and rejected claims rise
03 April 2017
The number of disputes about general insurance products and services grew 31% to 30,171 in the last financial year, according to the industry’s Code Governance Committee…
Partnership the key to encouraging insurtechs
03 April 2017
Insurtechs are better off partnering with established insurers than trying to jump through regulatory hoops or sourcing the capital they need to compete against incumbents, according to a KPMG industry expert…
Most Kaikoura settlements due this year
03 April 2017
New Zealand insurers expect most Kaikoura earthquake cash-settlement offers will be made by the end of this year for commercial and residential claims…
ICA pushes back code submission deadline
03 April 2017
The Insurance Council of Australia has extended the deadline for submissions on its review of the General Insurance Code of Practice, as it seeks more diverse community feedback…
Queensland braces for ‘destructive’ Debbie
27 March 2017
Tropical Cyclone Debbie is on course to make landfall in Queensland tomorrow, as the state braces for what could be its biggest storm since Yasi in 2011…
Appeal court extends Pratten’s sentence
27 March 2017
Former Sydney insurance broker Charles Pratten has been given an extended prison sentence for tax evasion and breaching a restraining order, and will now be eligible for parole from October 2019…
Fels links home policy prices to market failure
27 March 2017
NSW Emergency Services Levy Insurance Monitor Allan Fels has attracted industry criticism after saying wide price differences for home cover suggest competition is deficient and providers are making it difficult for consumers to compare policies…
Email attacks dominate SME cyber breaches
27 March 2017
Phishing or email scams account for more than half of cyber attacks suffered by Australian SMEs, according to a survey by cyber-security group Symantec…
Large Kaikoura aftershock still possible
27 March 2017
A major aftershock following last year’s Kaikoura earthquake remains “well within the probabilities”, according to modelling by New Zealand’s GeoNet…