ICA revises down catastrophe figures
08 July 2013
The insurance cost of recent natural disasters has fallen, according to adjusted figures from the Insurance Council of Australia…
Local
Riskpool pulls Christchurch cover
08 July 2013
New Zealand mutual liability trust fund Riskpool has withdrawn its professional indemnity and public liability insurance for possible claims related to Christchurch building consents…
Vehicle thefts decline in first quarter
08 July 2013
Short-term motor vehicle thefts fell 9% in the three months to March 31 compared with the December quarter, according to national figures…
Half of NZ public assets lack cover
08 July 2013
More than half of New Zealand’s public assets are uninsured, according to a survey by the country’s Auditor-General…
ICNZ opens insurance fraud hotline
08 July 2013
The Insurance Council of New Zealand has launched a fraud hotline to fight rorts that cost local policyholders more than $NZ150 million ($128 million) a year…
Correction
08 July 2013
In an article last week (PL business declines, as PI continues to grow, insuranceNEWS.com.au, July 1), we failed to credit the information to the Australian Prudential Regulation Authority’s National Claims…
Direct threat and technical knowledge top broker concerns
01 July 2013
Competition from direct insurers and the need to maintain technical knowledge are brokers’ main concerns, according to a survey for the LMI Group…
S&P affirms Asia-Pacific insurer ratings
01 July 2013
Standard & Poor’s has issued revised ratings using new criteria for 25 non-life insurance companies in the Asia-Pacific region…
Medical indemnity claims continue to increase
01 July 2013
The number of private and public sector medical indemnity claims is rising, but there is “no need for alarm bells yet”, the Australian Institute of Health and Welfare says…
Insurance groups back UN principles
01 July 2013
A year after its launch, the Principles for Sustainable Insurance initiative has become the largest collaboration between the United Nations and the global insurance industry…
PL business declines, as PI continues to grow
01 July 2013
The number of public liability (PL) risks written in Australia fell last year to 2.3 million from 2.4 million in 2011 – but the drop was countered by a rise in professional indemnity (PI) policies to 508,168 from 487,748…
Insurers have more room to cross-sell, survey shows
01 July 2013
The average insurer covers less than 50% of its business customers’ needs, a new survey shows…
Find an Insurer fields 280,000 queries in first year
01 July 2013
The Find an Insurer online referral service has received more than 280,000 enquiries in its first year, according to the Insurance Council of Australia…
Most consumers will pay less, insurers tell FSL Monitor
24 June 2013
The Victorian market is too competitive to allow premium rises that exploit the fire services levy’s removal, insurers told a public hearing last week…
Government intervention does not cut risk
24 June 2013
Insurance provided by the public sector does not reduce risk, a report on market-based mechanisms for climate change adaptation says…
Natural disasters to cost $23 billion by 2050, leaders say
24 June 2013
The annual cost of natural catastrophes in Australia will soar from $6.3 billion to $23 billion by 2050 because of population growth and increasingly extreme weather, a new report claims…
Self-insurers may face higher workers’ comp contribution
24 June 2013
A review of workers’ compensation in Victoria has recommended an increase in self-insurers’ contributions…
Lehman liquidator halts settlement
24 June 2013
Lehman Brothers’ US liquidator has blocked a scheme to settle claims against Lehman Brothers Australia in which a group of US professional indemnity insurers and QBE would have paid creditors…
NSW insurance revenues forecast to increase
24 June 2013
Insurance stamp duty revenues in NSW are expected to rise 4.47% next financial year to $888 million, according to state budget papers…
Heavy storms hit New Zealand
24 June 2013
Insurance claims in the tens of millions of dollars are expected after ferocious storms hit Wellington and parts of the South Island…