New modelling improves cyclone forecasts
22 May 2017
The Bureau of Meteorology can more accurately forecast tropical cyclones near offshore gas and oil facilities following a two-year research program jointly funded by energy companies…
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Updated CoastAdapt site helps manage climate risks
22 May 2017
The CoastAdapt online risk management tool has been released in a final version to help local governments and other groups assess climate change effects…
Clarification:
22 May 2017
In last week’s article on the latest Australian Prudential Regulation Authority general insurance institution-level statistics, insuranceNEWS.com.au reported the results for WR Berkley, which the company says has not written any significant business in Australia since 2014…
Industry earns almost $3.4 billion in net profit
15 May 2017
The general insurance industry has recorded a combined annual net profit of $3.38 billion, according to the Australian Prudential Regulation Authority’s latest statistics…
Businesses warned as global cyber attack exposes security flaws
15 May 2017
Companies must step up their security against cyber attacks following the massive ransomware assault that crippled the UK’s public health system and companies in Europe and the US, experts say…
Single complaints authority to absorb FOS
15 May 2017
The Financial Ombudsman Service will be rolled into the new Australian Financial Complaints Authority from July next year…
Broker business holds up among NZ SMEs, Vero finds
15 May 2017
The first New Zealand edition of Vero’s SME Insurance Index shows most of the country’s small businesses are buying cover through brokers – but it warns against complacency…
Debbie losses approach $900 million
15 May 2017
Insured losses from Cyclone Debbie and associated flooding have risen to $897 million from 56,135 claims, the Insurance Council of Australia says…
El Nino still possible: forecasters
15 May 2017
The chances of an El Nino weather system this year cannot be ruled out despite the likelihood easing in some models, the Bureau of Meteorology says…
Industry players ‘lead on privacy governance’
15 May 2017
The financial services sector, which includes general insurance, has the best privacy governance because it is so highly regulated and holds regular staff training, according to this year’s Deloitte Australian Privacy Index…
Broker acts to cut building insurance costs
15 May 2017
A new facility has been set up to reduce insurance costs for buildings featuring certain types of expanded polystyrene panels…
Brisbane flood study may help reduce premiums
08 May 2017
Findings from a four-year Brisbane River catchment flood study are expected to increase mitigation efforts and improve premium pricing…
Insurers told to increase scrutiny on claims investigations
08 May 2017
Insurers should more closely oversee external claims investigators following complaints about their behaviour towards customers, the industry’s independent monitor has found…
Insurers urged to help family violence survivors
08 May 2017
A campaign group has called on the insurance industry to do more to help victims of family violence…
Industry crosses fingers for mitigation funding in budget
08 May 2017
Insurers hope tomorrow’s Federal Budget will include disaster mitigation funding, with recent damage from Cyclone Debbie highlighting the issue…
Sea level rise may force NZ insurers to limit cover
08 May 2017
Rising sea levels could leave some New Zealand coastal properties without access to insurance as the risk of damage increases, a research report warns…
NZ ‘tempest’ costs insurers $38 million
08 May 2017
The March storm dubbed the Tasman Tempest has cost insurers $NZ41.7 million so far, according to the Insurance Council of New Zealand…
More arrests made in CTP fraud crackdown
08 May 2017
Two Sydney men have been charged with defrauding the NSW compulsory third party insurance scheme of more than $1.7 million…
Insurance sector tops confidence survey
08 May 2017
The finance and insurance sector has topped a survey of SME confidence levels, despite its score easing from previous highs…
Cyclone strengthens argument for mutual insurer: MP
01 May 2017
Damage caused by Cyclone Debbie has reinforced the case for a mutual insurer to reduce premiums to affordable levels, north Queensland-based MP Warren Entsch says…