Deniliquin ready to resist major floods
26 May 2014
Raising a levee around the NSW town of Deniliquin has cost $15.8 million and will prevent an estimated $85 million of flood losses…
Local
Insurers, council pass blame over NSW bushfire rebuilds
26 May 2014
Some of the 212 homeowners who lost their properties in last year’s Blue Mountains bushfires may not be able to rebuild, because building policy changes left them unwittingly…
ICA probes NSW flood risk data gaps
26 May 2014
The Insurance Council of Australia has started reviewing NSW local government hazard information to improve a national database it has developed…
Trucks account for 30% of worker deaths
26 May 2014
Some 787 workers were killed in truck-related incidents in the decade to 2012, accounting for 30% of all worker fatalities.…
Fears cybercrime threat has gone unheeded
26 May 2014
Cybercrime in Australia costs about $4.5 billion annually, but the message on mitigation is still not getting through to many businesses, Aon Financial Specialties…
Canterbury quakes to cost insurers more than $NZ31 billion
26 May 2014
Insurance losses from the Canterbury earthquakes are likely to range from $NZ31-$38 billion ($28.75-$35.25 billion), the Reserve Bank of New Zealand estimates…
Budget: Canberra funds Queensland comparison website
19 May 2014
The insurance industry is heading for a showdown with the Federal Government over plans to establish a comparison website for home and strata cover in north Queensland…
Budget: National affordability initiative scrapped
19 May 2014
The National Insurance Affordability Initiative will be scrapped under changes outlined in the Federal Budget last week…
Budget: $450 million more taken from terrorism pool
19 May 2014
The Federal Government will take $450 million from the Australian Reinsurance Pool Corporation (ARPC) over the next four years while allocating Treasury $1.2 million to develop options…
Budget: Cuts claim emergency management campus
19 May 2014
The Australian Emergency Management Institute is to become a “virtual institute”, saving the Federal Government about $900,000…
Budget: Industry hails APRA role change
19 May 2014
The insurance industry has welcomed moves to expand the Australian Prudential Regulation Authority’s remit…
Budget: Scoping study for Defence Service Homes Insurance
19 May 2014
The Federal Government will commission an insurance industry expert to undertake a scoping study on the future of the Defence Services Homes Insurance Scheme…
Budget: New funding for bushfire mitigation
19 May 2014
The Federal Government has set up a new national bushfire mitigation program, with the budget allocating $5 million a year for three years to the project…
Vero raises doubts on financial lines newcomers
19 May 2014
Customers should be wary of an influx of new entrants to the Australian financial lines market, according to Vero…
EQC asks court to rule on flood damage scheme
19 May 2014
The New Zealand Earthquake Commission has asked the country’s High Court to rule on its untested Increased Flooding Vulnerability scheme…
Disputes to FOS rise 6%
19 May 2014
General insurance disputes made up 26.1% of the total disputes handled by the Financial Ombudsman Service in the March quarter…
Telematics is on the way
19 May 2014
Australia has seen slow take-up of telematics but that will change as more vehicles roll off the production line with the tracking systems built in, Zurich Head of Customer and Proposition Development…
S&P warns against price reductions
12 May 2014
Australia’s general insurance sector has retained its coveted “low-risk” status in Standard & Poor’s latest insurance industry and country risk assessment…
Changing workforce ‘challenging insurers’
12 May 2014
The insurance industry must adapt to shifting employee preferences and expectations to secure the best talent, according to a report by Suncorp…
Risk management takes a back seat as business battens down
12 May 2014
Aon Risk Solutions Australia CEO Lambros Lambrou says concern about the economy has heightened the risk of companies cutting back on their insurance cover…