NSW power company offers no view on fire cause
16 June 2014
The cause of a bushfire that destroyed 193 houses in the Blue Mountains has yet to be determined, according to lawyers for a power company facing a $200 million class action…
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Trucking fines show threat from ‘heavy-handed’ regulation
16 June 2014
Record fines imposed on an SA truck company and two staff show the haulage industry faces “heavy-handed” regulation, according to Specialist Underwriting Agencies Director John Iles…
Hazelwood action on hold as fire inquiry proceeds
16 June 2014
Interest in a class action against the owner of the Hazelwood open-cut mine “has really gone quiet” since an inquiry into the recent fire there began, according to local broker Alan Wilson…
In Insurance News (the magazine) this month
16 June 2014
The local broking scene is in for a shake-up following Arthur J Gallagher’s acquisition of No.5 broker OAMPS. The June/July edition of Insurance News (the magazine) contains fresh…
Insurance woes ‘hit north Australian economy’
10 June 2014
Spiralling insurance costs have sent businesses bust, while householders have seen premiums rise 1000%, the Federal Parliament’s committee on the development of northern Australia has heard…
Homeowners warned on climate change
10 June 2014
Extreme weather risks and climate change could almost double home insurance premiums and cut at least 20% off property values in some exposed areas over a 30-year mortgage…
Australian insurers ‘wary of new reinsurance capital’
10 June 2014
Alternative capital has transformed the reinsurance market, but Australian insurers remain loyal to traditional reinsurance because they know it will pay claims, IAG CFO Nick Hawkins says…
Wilkins urges radical rethink of disaster management
10 June 2014
Australia needs a more sustainable, comprehensive and national approach to managing natural disasters, according to IAG MD and CEO Mike Wilkins…
S&P, ABN Amro lose appeal over GFC losses
10 June 2014
Standard & Poor’s, ABN Amro and investment manager Local Government Financial Services have lost an appeal in the Federal Court over claims they misled investors before the global financial crisis…
Heatwaves ‘growing more intense’
10 June 2014
Heatwaves now start earlier in the year, last longer and are more intense because of global warming, the Actuaries Institute’s Catastrophe Risk Seminar heard last week…
Car thefts continue to drop
10 June 2014
The number of car thefts dropped marginally in the March quarter, according to the National Motor Vehicle Theft Reduction Council…
NZ storm causes $41 million losses
10 June 2014
An Easter storm that left 22,000 New Zealanders without power and caused extensive damage to properties resulted in insured losses of $NZ46 million ($41.8 million), according to the…
Capacity, competition keep lid on rates
02 June 2014
Plenty of capacity and competition among insurers are keeping rates down as the new financial year approaches…
Industry profits slide despite premium gains
02 June 2014
The industry’s gross written premium increased in the year to March 31 on growth in domestic motor and home and contents insurance, but profits fell…
ARPC to roll out terror blast model
02 June 2014
The Australian Reinsurance Pool Corporation will extend its terrorism blast modelling to Brisbane and Adelaide over the next year…
Expert hits out at bushfire planning reform
02 June 2014
A fire management expert has slammed changes to bushfire planning laws announced by the Victorian Government…
NSW emergency levy rates drop
02 June 2014
Insurers have cut their collection rates for the NSW emergency services levy across most premium lines…
Tax board eases adviser fears on PI cover
02 June 2014
Most financial advisers who offer tax advice will not need to pay significantly higher professional indemnity premiums or obtain extra cover to meet new tax agent registration…
Marsh sues former SA manager
26 May 2014
Marsh is suing its former SA manager of strategic risk Noel Vickery, claiming he took information from the company when he left after being made redundant…
NSW fire victims launch class action
26 May 2014
Hundreds of people who lost homes and businesses in last October’s Blue Mountains bushfire have launched a $200 million class action against power company Endeavour Energy…