NZ businesses ‘prone to cyber attackers’
29 June 2015
Cyber criminals may target New Zealand due to the country’s high proportion of “woefully underprepared” small businesses, insurers have warned…
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Flood mapping picks up pace
22 June 2015
Insurers will soon have better data on flood-prone areas of central Queensland, when the Insurance Council of Australia releases version five of its national flood information database…
IAG unveils global catastrophe risk map
22 June 2015
IAG’s “groundbreaking” Global Risk Map has been unveiled as the latest weapon in the battle to secure investment in pre-disaster resilience…
New code of practice to kick in
22 June 2015
The revised General Insurance Code of Practice takes effect on July 1…
Consumer group campaigns for renewal ‘honesty’
22 June 2015
The Consumer Action Law Centre has started a campaign calling for insurers to be more transparent about premium changes…
WA begins flammable cladding audit
22 June 2015
About 70 high-risk buildings in the Perth CBD will be checked for flammable cladding, following similar action in Victoria…
Lawyers oppose privatising workers’ comp
22 June 2015
State and territory governments should reject a proposal to hand control of workers’ compensation schemes to commercial insurers, the Australian Lawyers Alliance says…
Insurers and reinsurers achieve $4.57 billion profit
15 June 2015
General insurers and reinsurers made a combined profit of $4.57 billion last year, according to the latest Australian Prudential Regulation Authority company-level statistics…
LMI hails more five-star claims services
15 June 2015
Four insurers have earned five-star ratings for the first time in LMI Group’s latest ClaimsComparison survey…
ICA states case for workers’ comp overhaul
15 June 2015
A report commissioned by the Insurance Council of Australia calls for greater harmony between state and territory workers’ compensation schemes…
Climate change ‘intensifies flash flooding’
15 June 2015
Australian communities face increasingly damaging flash floods as the planet warms, according to research by the University of NSW…
NSW court upholds confidentiality of PI policy
15 June 2015
The NSW Supreme Court has rejected a bank’s request for access to the professional indemnity policy of a company it is suing…
Call for rethink of credit card travel cover
15 June 2015
Allianz Global Assistance has called for an overhaul of the way travel insurance is provided with credit cards, following a review by the Australian Securities and Investments Commission…
NZ insurers agree to $NZ100,000 code fine
15 June 2015
Insurance Council of New Zealand members have agreed to a maximum fine of $NZ100,000 ($92,850) for unresolved significant breaches of the Fair Insurance Code, which takes effect on January 1…
Car thefts sink to record low
15 June 2015
The number of short-term car thefts in Australia fell to 31,266 in the year to March – the lowest annual level since tracking started in the 1970s…
In Insurance News (the magazine) this month
15 June 2015
The latest newcomer to the local insurance market is one that’s got competitors worried. It’s Berkshire Hathaway Speciality Insurance, and our exclusive report in the June/July edition of Insurance News (the magazine) introduces you to its 33-year-old Australian CEO, who has big plans and the backing to carry them out…
Change afoot, but industry fundamentals will remain, expert says
09 June 2015
A range of factors is reshaping the insurance landscape, according to senior lawyer Mark Kimberley. But he expects the industry will adapt to the changes without being damaged…
Coroner should probe cladding blaze, firefighters say
09 June 2015
The Metropolitan Fire Brigade in Melbourne has asked a coroner to investigate a high-rise fire that spread rapidly due to the use of flammable cladding…
FOS outlines compensation scheme plan
09 June 2015
The creation of a financial services compensation scheme in Australia would benefit consumers by addressing gaps in professional indemnity insurance, according to the Financial Ombudsman Service, which has released a new proposal for the scheme…
Technology raises prospect of zero car accidents
09 June 2015
The insurance industry was given a taste last week of how technology is going to change motor vehicle and accident insurance…