Global leaders fear political risks over economic crises
02 February 2015
Geopolitical risks outweigh economic threats for the first time in the 10-year history of the World Economic Forum’s Global Risks report…
Local
Cyber threat surges up global risk rankings
02 February 2015
Business interruption and supply chain issues, natural catastrophes and fires or explosions are the top three threats facing companies worldwide, according to the fourth annual Allianz Risk Barometer…
Insurers repay $27 million after Victorian FSL transition
02 February 2015
Fifty-six insurers have collectively repaid $26.9 million related to Victorian fire services levy over-collection and price increases…
FOS warns on fair and prompt claims resolution
02 February 2015
Fair and prompt insurance claim resolution falls under a financial service provider’s wider obligation to act with utmost good faith, the Financial Ombudsman Service says…
SA bushfire claims hit $33 million
02 February 2015
Bushfires that swept through the Adelaide Hills early last month have resulted in 936 claims worth $33.1 million…
Brisbane storm losses continue to rise
02 February 2015
The hailstorm that hit Brisbane on November 27 has led to more than 102,300 claims valued at $1.08 billion…
A NOTE FROM THE PUBLISHER
15 December 2014
This is the final scheduled insuranceNEWS.com.au bulletin for 2014. We will return on February 2, but while we’re in recess any significant industry news will be covered by our Breaking News service…
Insurers, reinsurers report $4.52 billion profit
15 December 2014
General insurers and reinsurers made a combined net profit of $4.52 billion in the last financial year, according to the latest company-level statistics from the Australian Prudential Regulation Authority…
State tells town planners: don’t mention climate change
15 December 2014
The Queensland Government has told a regional council to remove all references to projected sea level rises from its town planning scheme, prompting fears over future liability…
Brisbane hailstorm closes on $1 billion mark
15 December 2014
Estimated insurance losses from the November 27 Brisbane hailstorm now stand at $804 million, according to the Insurance Council of Australia…
Victoria feels heat from rising bushfire risk
15 December 2014
Victoria must prepare for increasingly devastating bushfires as climate change takes hold, according to the Climate Council…
Fitch forecasts stable year for industry
15 December 2014
Next year’s outlook for the Australian insurance sector remains stable, according to Fitch…
Court backs Christchurch flood vulnerability payments
15 December 2014
New Zealand’s Earthquake Commission is soon to start settling about 13,500 land claims from Canterbury earthquake victims whose homes have become more vulnerable to flooding…
Building groups look to improve NSW certifiers’ PI cover
15 December 2014
The NSW Government’s Building Professionals Board has questioned building certifiers about claims against their professional indemnity insurance…
LMI ‘benefits from lending crackdown’
15 December 2014
Moves to reinforce sound mortgage lending practices will have knock-on benefits for providers of lenders’ mortgage insurance, according to ratings agency Moody’s…
Murray inquiry calls for better guidance and disclosure
08 December 2014
Insurers must do more to help consumers buy the right cover, according to the Financial System Inquiry’s final report…
Cyclone risk ‘lifts north Queensland premiums’
08 December 2014
Rates for home and contents cover in north Queensland have risen 80% since 2005 due to insurers responding to cyclone losses, according to the third Australian Government Actuary report on insurance pricing in the region…
MP attacks ICA over north Queensland ‘scare campaign’
08 December 2014
Federal MP Warren Entsch has accused the Insurance Council of Australia of mounting a “scaremongering” campaign on north Queensland consumers.
Brisbane hailstorm losses continue to rise
08 December 2014
Insured losses from last month’s Brisbane hailstorm are approaching the $500 million mark…
Growth problems drive consolidation
08 December 2014
The number of mergers and acquisitions in the Asia-Pacific region has held steadier than expected since the global financial crisis, according to AM Best…