Insurer/reinsurer profit tops $4 billion
17 June 2013
Insurers and reinsurers made a combined profit of $4.21 billion last calendar year, according to company-level statistics from the Australian Prudential Regulation Authority…
Local
Councils can help insurers understand risk: report
17 June 2013
Local councils should help insurers pinpoint risks within their borders so premiums are priced accurately, a new report says…
Lessons learned drive down flood complaints
17 June 2013
Work to improve the availability and understanding of flood cover appears to be paying off, with the Financial Ombudsman Service receiving few complaints after January’s floods in Queensland…
Insurers to front FSL hearing
17 June 2013
All insurers invited to a public meeting to explain their removal of the Victorian fire services levy have now confirmed they will attend…
Business group to reveal disaster resilience plan
17 June 2013
The Australian Business Roundtable for Disaster Resilience and Safer Communities will this week release a white paper on natural disaster management…
Property manager sentenced over Herbert Insurance fraud
17 June 2013
A former property manager for Bunnings New Zealand has been sentenced to five months’ home detention after receiving kickbacks from failed broker Herbert Insurance…
Car thefts rise
17 June 2013
The number of motor vehicle thefts increased 6% last year compared with 2011, according to the Australian Bureau of Statistics…
Reports move fire rating system closer to completion
17 June 2013
The Bushfire Co-operative Research Centre is a step closer to developing a new national fire rating system, following the publication of three interim reports…
ANZIIF updates educational app
17 June 2013
The Australian and New Zealand Institute of Insurance and Finance has launched updated versions of its educational website and mobile application…
Lawyers fear code review may be buried
11 June 2013
Consumer groups fear recommendations arising from the year-long review of the General Insurance Code of Practice may be “buried”…
Image, the economy and regulation worry corporations
11 June 2013
The state of the economy has become a top concern for senior executives in Australia and New Zealand while the cost of business interruption is also an increasing worry…
Australian clients to benefit from sidecar at Lloyd’s: Aon
11 June 2013
A new capacity deal being provided on the Lloyd’s market by US insurance giant Berkshire Hathaway has already been accessed by Aon Australia…
Queensland earmarks $9 billion for disaster rebuild
11 June 2013
Queensland has allocated $9.3 billion for disaster recovery as it rebuilds following widespread flooding…
Researchers promise smarter disaster management platform
11 June 2013
Australian IT experts are developing a disaster management platform that will help companies and agencies improve mitigation and responses…
SA insurance revenues to grow as CTP proceeds fall
11 June 2013
SA’s insurance revenues will grow 7.4% in the next financial year as rising domestic and commercial premiums offset a drop in compulsory third-party proceeds, according to state budget forecasts…
Home and contents cover a luxury, say Kiwis
11 June 2013
One-third of New Zealanders think home and contents insurance is a luxury, according to a study by research group Canstar…
Insurers urged to follow banks on hardship measures
11 June 2013
The banking industry’s new financial hardship package should prompt insurers “to look at their practices and see that they’re keeping up”, according to a consumer advocacy group…
Steadfast outlines plans to consolidate brokers
03 June 2013
Steadfast has detailed its plans to establish “hub brokers” to enable consolidation of small and medium-sized brokers into larger, well-established firms…
Claims data reflects drop in catastrophe costs
03 June 2013
Insurers’ gross incurred claims fell 15% in the year to March 31 following fewer natural disasters, according to Australian Prudential Regulation Authority industry data…
ALRC sets out plan to break down age barriers
03 June 2013
The Australian Law Reform Commission has identified insurance availability as a major barrier to older people’s ability to work…