Catastrophes slice industry profits in half
23 November 2015
Profits for insurers and reinsurers fell by half to $2.36 billion as a string of weather-linked disasters including storms in NSW drove up claims, annual industry data shows…
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Climate change ‘poses threat to bushfire response’
23 November 2015
Australia’s bushfire preparedness is at risk from climate change, a new report from the Climate Council warns…
Insurers’ revenue ‘to increase’ as rates pick up
23 November 2015
Australian general insurers’ revenues are projected to grow 3.5% a year to reach $68.8 billion in 2020/21, according to analyst Ibisworld…
NZ urged to act on rising sea levels
23 November 2015
New Zealand must better prepare for rising sea levels, according to new research…
More apartments found with non-compliant cladding
23 November 2015
Two more buildings with non-compliant external cladding have been identified in Melbourne…
El Nino effects ‘unknown’ amid climate change
23 November 2015
The impact of the current El Nino cannot be predicted due to the complicating factor of climate change, according to the World Meteorological Organisation…
Carrot-and-stick approach pays off on car crime
23 November 2015
The National Motor Vehicle Theft Reduction Council is not only trying to catch car thieves, it is also helping turn them into valuable members of society…
BOM releases cyclone awareness video
23 November 2015
The Bureau of Meteorology has produced an educational video as part of its cyclone awareness campaign…
Insurers and reinsurers make $2.31 billion profit, APRA data shows
16 November 2015
General insurers and reinsurers have made a combined full-year net profit of $2.31 billion, according to a compilation of company-level statistics from the Australian Prudential Regulation Authority…
Paris attacks ‘show importance of terror reinsurance pools’
16 November 2015
The devastating gun and bomb attacks in Paris that left almost 130 dead show there is an ongoing need for properly functioning terrorism reinsurance schemes, according to the Australian Reinsurance Pool Corporation…
Munich Re warns on soaring natural disaster costs
16 November 2015
Natural disasters cost the Australian economy $6.3 billion a year, and the sum is expected to climb to $23 billion by 2050, according to a new report from Munich Re…
El Nino still has room to grow
16 November 2015
The current El Nino has been established for six months but still has not peaked, according to the Bureau of Meteorology…
NZ claims database generates real-time fraud alerts
16 November 2015
New Zealanders “double-dipping” on claims or pretending to lose their phones so they can get the latest models will be immediately flagged thanks to the new Insurance Claims Register…
Insurers’ survival depends on customer focus: KPMG
16 November 2015
Customer-centricity lies at the heart of innovation and also at the heart of insurers’ very survival, according to a KPMG report on New Zealand’s insurance industry…
Fire risk apartments ‘didn’t follow approved plans’
16 November 2015
Melbourne apartments built using non-compliant cladding were not constructed in accordance with approved plans, it has been revealed…
NZ regulator pinpoints ‘too big to fail’ insurers
16 November 2015
The Reserve Bank of New Zealand has for the first time compiled a list of insurers it considers too important to fail – but won’t say who they are…
LMI chief talks drones, clones and automobiles
16 November 2015
Game-changers for insurers over the next 5-10 years include 3D printers that can build houses and fix broken bones, drones that can photograph asbestos and deliver humanitarian aid, and driverless cars, according to an industry expert…
El Nino ‘good news for insurers’
09 November 2015
The El Nino weather phenomenon will benefit Australian general insurers, according to a new report from Morgan Stanley…
Bushfire outlook worsens in SA, Tasmania
09 November 2015
The Bushfire and Natural Hazards Co-operative Research Centre has today reissued its outlook for southern Australia following an “exceptionally dry” spring…
Scrapping insurance taxes would save $575 million
09 November 2015
Abolishing inefficient insurance taxes would save governments $575 million over five years and increase public spending by more than $5.5 billion, according to research commissioned by the Insurance Council of Australia…