Insurers poor at explaining premium jumps: Choice
11 February 2013
Consumer group Choice says insurance premiums have spiked but companies are failing to explain the reasons behind their pricing decisions…
Local
Insurers call for register of NZ homes damaged beyond repair
11 February 2013
The Insurance Council of New Zealand has called for a register of homes that insurers have written off after the Canterbury earthquakes…
Price increases expected on all lines
04 February 2013
The insurance industry expects rate increases across all lines this year, according to the latest JP Morgan/Taylor Fry General Insurance Barometer…
Queensland counts cost of floods as blame game begins
04 February 2013
The mounting cost of the second major flood to hit Queensland in as many years has turned attention towards mitigation measures recommended but yet to be implemented, and the cost and availability of insurance…
General insurers record $3.38 billion profit for 2011/12
04 February 2013
General insurers made a combined after-tax profit of $3.38 billion in the year to June 30 last year, according to the Australian Prudential Regulation Authority…
Government-subsidised flood cover debate resurfaces
04 February 2013
A Government-backed flood insurance scheme for householders in high-risk areas is again being raised following the latest Queensland and northern NSW floods…
Insurers count cost of Tasmania, NSW bushfires
04 February 2013
Devastating bushfires across Tasmania, Victoria and parts of NSW are expected to cost insurers nearly $100 million…
FOS backs policyholders in 40% of Queensland flood cases
04 February 2013
The Financial Ombudsman Service settled 40% of matters in favour of consumers in determinations on disputes from the 2011 Queensland floods…
Code review divides insurers and consumers
04 February 2013
Insurers and consumer groups are at odds over claims and dispute-handling standards in their submissions to the review of the General Insurance Code of Practice…
Ace faces further pay action from ex-agents
04 February 2013
Ace Insurance may face more claims from former agents over holiday and long-service leave after losing a Federal Court appeal…
NZ court overturns Bridgecorp decision
04 February 2013
Australian courts are expected to follow the New Zealand Court of Appeal’s decision to quash the Bridgecorp decision on directors’ and officers’ cover, which forced insurers to redesign policies…
Fire levy monitor investigates more than 100 complaints
04 February 2013
Victoria’s new Fire Services Levy Monitor is already investigating more than 100 complaints from householders and business owners, and he is writing to insurers requiring them to detail how they will…
Court approves bushfire settlement
04 February 2013
Settlement terms for a class action following the 2009 Black Saturday bushfires at Pomborneit in western Victoria have been approved by Justice David Beach in the state’s Supreme Court, paving the way…
Suncorp returns to Emerald
04 February 2013
Suncorp is reviewing risk pricing in Emerald and will offer cover there once again after the State Government pledged $5 million for flood mitigation work…
Outlook stable for Australia and NZ: Fitch
04 February 2013
The Australian insurance sector should maintain a strong credit profile and earnings this year, despite pressure from falling interest rates, according to Fitch Ratings – which has given the sector a stable outlook…
Wivenhoe flood class action maps revealed
04 February 2013
A class action stemming from the Brisbane floods of January 2011 has moved a step closer, with law firm Maurice Blackburn releasing maps of areas it says were hit following negligent operation of the Wivenhoe…
March deadline for Black Saturday fire action
04 February 2013
Victims of the 2009 Black Saturday bushfires in the Kilmore East and Kinglake districts of Victoria have until March 22 to join a class action run by lawyers Maurice Blackburn…
NZ brokers win on composite and split-tier policies
04 February 2013
New Zealand’s High Court has supported brokers and Vero in their case against the New Zealand Fire Service over composite and split-tier insurance policies…
ICA supports Victorian taxi reform
04 February 2013
The Insurance Council of Australia says key reforms proposed in the Victorian Taxi Industry Inquiry will reduce cab drivers’ financial exposure and benefit other road users and their insurers…
ICNZ takes Christchurch council to court
04 February 2013
The Insurance Council of New Zealand has taken Christchurch City Council to the NZ High Court for a judicial review of the authority’s powers to increase regulations on strengthening buildings…