Councils call for nationwide focus on coastal risks
25 June 2012
Delegates at the Australian Local Government Association’s National General Assembly in Canberra last week have called for a national approach to development risks in coastal areas…
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NZ householders unhappy with earthquake insurers
25 June 2012
More than a year after the Christchurch earthquake, most affected householders are “greatly dissatisfied” with the performance of their insurers, according to a survey in the region by …
Flood definition becomes law
18 June 2012
The standard definition of flood is now law, after the Federal Government this morning enacted the regulations to give effect to the definition…
Home premiums down, commercial and rural up if NSW drops FSL
18 June 2012
Premiums would be cheaper for the average residential property in NSW if a property-based levy replaced the fire services levy, according to modelling by Deloitte and the Insurance Council…
Reinsurance covered almost half of insurers’ 2011 losses
18 June 2012
The latest insurance company statistics from the Australian Prudential Regulation Authority show just how much reinsurers took a beating from last year’s disasters…
Premium funders fear losses from Victorian FSL switch
18 June 2012
Premium funders stand to lose $2-$3 million because there will not be a phasing-out period for the Victorian fire services levy…
Consumer groups reject Productivity Commission on flood insurance
18 June 2012
The Consumer Action Law Centre has rejected Productivity Commission claims that government subsidies on flood insurance will reduce consumers’ incentives to mitigate flood risk and…
Insurers working on WA storm claims
18 June 2012
Storms in WA last week have generated 15,500 claims to date, although the Insurance Council of Australia is not yet able to put a financial figure on the cost to insurers…
ICA building products rating tool gets green light
18 June 2012
A building materials resilience rating tool being developed by the Insurance Council of Australia is on track to go live to the public around this time next year after its rating methodology…
Software may help NZ insurers’ risk predictions
18 June 2012
New Zealand scientists are working on software to help insurers better predict property damage, business interruption and casualty losses in the event of future earthquakes…
Car theft rate still climbing
18 June 2012
Vehicle thefts in Australia continued to rise in the first quarter of this year, with the numbers up 8% on the December 2011 quarter, according to the latest statistics from the National Motor Vehicle…
In Insurance News (the magazine) this month
18 June 2012
IAG CEO Mike Wilkins opens up about opportunities and expansion in an exclusive interview in this month’s edition of Insurance News (the magazine), which is being mailed out this week…
NSW moves to dump fire services levy
12 June 2012
NSW Treasurer Mike Baird has announced a review of the state’s fire and emergency services funding that is expected to result in the abolition of the contentious fire services levy…
Vic fire levy last year raises risk for premium funders
12 June 2012
The Victorian Government’s decision not to phase out the fire services levy through a graduated process is alarming premium funders, who see their risk increasing if policyholders cancel policies early…
Suncorp still refusing new business in Emerald
12 June 2012
Suncorp is still refusing to write new business in the flood-affected Queensland town of Emerald despite joining a council tour of flood mitigation work in the town…
Roma tries to woo insurers with levee plans
12 June 2012
Representatives from the Maranoa Regional Council, the local government authority for the Queensland town of Roma, met with insurers last week in a bid to improve the availability and affordability…
European upheaval weighs on reinsurers
12 June 2012
Europe’s financial upheavals are forcing reinsurers to be more cautious in providing capacity as the June renewals progress, according to a senior reinsurance executive…
Winter weather spares insurers
12 June 2012
The wild weather that lashed parts of NSW and Victoria last week will not be declared a catastrophe, a spokesman for the Insurance Council of Australia told insuranceNEWS.com.au…
Perpetual reviewing HIH decision
12 June 2012
Investment company Perpetual Trustees is still considering whether to appeal against a NSW Supreme Court decision last week to dismiss a claim by HIH Holdings for the repayment of New Zealand…
Car thefts and break-ins rise
12 June 2012
Car thefts and break-ins rose slightly last year, Australian Bureau of Statistics figures show…