Rate increases hit WA households after floods
21 May 2012
The consumer backlash to compulsory flood cover has spread to WA, where some residents face substantial premium increases from insurers that have expanded flood cover…
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Suncorp chief hits ‘squandering’ Budget
21 May 2012
The Federal Government Budget has risked “squandering a once in a generation opportunity” to promote savings and long-term investment for the future of Australia’s economy, Suncorp CEO Patrick Snowball…
EQC topping up reinsurance
21 May 2012
New Zealand’s Earthquake Commission is increasing its reinsurance cover to $NZ5 billion ($3.9 billion), according to UK reports…
Bushfire class action settled for $32.85 million
21 May 2012
A class action over a 2009 bushfire in the Victorian town of Beechworth has been settled for $32.85 million, and those who suffered a loss have until June 30 to register a claim…
Car thefts up for first time in 10 years
21 May 2012
Motor vehicle thefts have risen for the first time in a decade. Some 57,540 vehicles were stolen last year – a 2% increase on the year before, according to the National Motor Vehicle Theft Reduction Council…
ICA criticises flood mitigation funding
14 May 2012
The Federal Budget has left flood-prone communities exposed by not providing enough for mitigation infrastructure in last week’s Budget, the Insurance Council of Australia says…
Bridgecorp appeal back to New Zealand
14 May 2012
It’s back to New Zealand for an appeal against the Bridgecorp directors’ and officers’ decision after the Centro shareholder class action was settled last week without resolving the question of D&O…
NZ home insurance premiums climb 40%
14 May 2012
The cost of insuring a home in New Zealand has increased by 40% this year and contents cover has risen more than 10%, according to Statistics New Zealand…
Super fund seeds local catastrophe bond fund
14 May 2012
An Australian catastrophe insurance-linked securities fund has attracted an initial $30 million investment from NGS Super…
Rural businesses benefit from brokers’ advice: survey
14 May 2012
Rural businesses that use a broker will gain much better cover, yet often believe they are too small or can’t afford to use a broker…
Australian cars lag in security
14 May 2012
The National Motor Vehicle Theft Reduction Council has called on Australian manufacturers to lift their game in fitting vehicle identification technology…
Powercor losses Horsham bushfire appeal
14 May 2012
The Victorian Court of Appeal has dismissed a legal challenge by Powercor over the 2009 Horsham Black Saturday bushfire…
Suncorp quits flood towns and calls for mitigation action
07 May 2012
Suncorp has withdrawn from writing new cover in parts of Queensland following last year’s floods, with Personal Insurance CEO Mark Milliner telling governments to get moving on disaster mitigation…
Victorian fire services levy up 18% this year
07 May 2012
Insurers will contribute $641.9 million to Victoria’s fire services levy this financial year, an 18% increase…
Brokerage ordered to pay client $2.7 million
07 May 2012
A Brisbane brokerage has been ordered to pay more than $2.7 million over a rejected claim…
Lawyer to head code of practice review
07 May 2012
Insurance lawyer Ian Enright will chair the forthcoming independent review of the General Insurance Code of Practice…
Insurers urged to broaden their investment
07 May 2012
Insurers need to work their investment portfolios harder as they face greater pressure to deliver profits…
Weather hits Australian businesses harder, survey shows
07 May 2012
Severe weather events have a bigger impact on Australian businesses than on those in other parts of the world, a new survey has revealed…
New midwives insurance model on the cards
07 May 2012
Health ministers have met to discuss a plan to insure private midwives who assist in low-risk home births…
Tsunami sirens to be installed in Christchurch
07 May 2012
A tsunami warning system will be installed this month along the coast near Christchurch, with 22 sirens scheduled to operate from July 1…