Fitch upbeat on Australia and New Zealand
16 December 2013
Fitch expects to maintain Australian insurers’ ratings over the next two years, citing strong capitalisation and generally robust earnings…
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Court sides with Vero on Antarctic oil spill
16 December 2013
It had appealed to the Full Court of the Federal Court after the court last year ruled a policy applied to buildings, plant and equipment but not to land at the Australian…
Comparison site adds detail to star ratings
16 December 2013
LMI Group says star rating criteria on its insurance claims comparison website will be made more transparent for the second round of performance rankings…
Australian crash standard wins UN approval
16 December 2013
The United Nations has agreed to an Australian-led standard that will cut death and injury in side-impact car crashes…
Injury premiums pose huge challenge, actuaries warn
16 December 2013
Premium affordability in personal injury schemes is a “massive issue”, with many employers seeing workers’ compensation as a tax, incoming Actuaries Institute President Daniel Smith warns…
Asia-Pacific reinsurance premiums to ‘double in six years’
09 December 2013
Reinsurance premiums in the Asia-Pacific region could double by 2020, but the increase will come with high exposure to natural catastrophes, according to Munich Re…
CEOs rate reputation damage as leading risk
09 December 2013
Risk management is changing to meet the threat from social media, as business executives worldwide seek ways to respond to attacks on their companies’ reputations…
Risk management ‘in chaos’
09 December 2013
Risk management is experiencing a “massive transition” and is in a state of chaos, according to the President of the US-based Risk and Insurance Management Society…
Insurance proceeds to flow following Lehman settlement
09 December 2013
A group of local and international insurers will pay $48 million following settlement of the Wingecarribee class action against failed US investment bank Lehman Brothers…
EQC misses repair target, gags whistleblower
09 December 2013
New Zealand’s Earthquake Commission will miss its target for repairing homes with major damage this year…
Injuries at work cost $60 billion a year
09 December 2013
Workplace injuries cost the Australian economy more than $60 billion a year, research by workplace healthcare provider Konekt shows…
In Insurance News (the magazine) this month
09 December 2013
The December edition of Insurance News (the magazine) contains our annual list of the 20 most influential people in the insurance industry. This year there are some surprises…
Insurers face big jump in FOS fees
02 December 2013
The insurance industry faces a large increase in membership fees for the Financial Ombudsman Service…
Insurers earn $32 billion in premium
02 December 2013
Insurers earned $32.59 billion of gross written premium and paid out claims totalling $20.77 billion last financial year, new figures show…
ICA unveils educational website
02 December 2013
The Insurance Council of Australia has launched a website to educate consumers and combat underinsurance…
Many NSW bushfire victims lack full cover
02 December 2013
More than one-quarter of residents affected by bushfires in NSW at the start of the year were not fully insured, new research shows…
Insurers, reinsurers to join flood class action
02 December 2013
Insurers that paid out on the 2011 Queensland floods will take part in what is expected to be Australia’s largest class action…
NZ brokers name their most valued insurer
02 December 2013
New Zealand brokers have voted IAG-owned NZI as their most valued insurer for 2013, followed closely by Vero…
Taskforce wants access to terror pool
02 December 2013
A taskforce has called on the Federal Government to expand coverage by the Australian Reinsurance Pool Corporation to cover insurance market failures in areas such as north Queensland…
Consumer credit cover profits criticised
02 December 2013
Consumer credit insurance is “exceptionally profitable” for insurers and may not give value for money, says the Consumer Action Law Centre…